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Cashflow Basics

Lesson 3 of 8

Tie The Magic Numbers To Your Product Or Service

Dominique Broadway

Cashflow Basics

Dominique Broadway

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Lesson Info

3. Tie The Magic Numbers To Your Product Or Service

Lesson Info

Tie The Magic Numbers To Your Product Or Service

So one of the single most important things that a business owner should understand when it comes to cash flow is really both numbers, right? What's coming in and what's going out also what products and services are generating the most cash flow. Because if you take the time to figure out what products or services are generating the most cash flow, it allows you to determine where to double down your efforts, right? Or maybe even determining, hey, I need to cut this product or service because it's actually costing me money. There is a high probability that there are, there are products or services in your business that could be costing you money just to keep those products or services around. So that's why it's very important to not just understand the money coming into the money coming out, but where the money is coming from, what products are bringing in the revenue or the money, what services are bringing in the revenue, the money and then what expenses, how much does it cost to um t...

o produce this product to deliver this service? So those are probably multiple, but very, very important aspects when it comes to cash flow. So it's not just what's coming in, what's going out. You're also wanting to link each expense to your product to to its respective product or to its respective service. So you can determine if these products and services even still need to be around in your business or not.

Class Description

How are you able to make smart and strategic business decisions without a clear understanding of how much cash you have flowing through your business? Does the thought of managing your books send shivers down your spine? A small business owner wears many hats and while you might not be an accountant or a bookkeeper, you must understand your cash flow. Why? Having a firm understanding of the money coming and the money going out will give you the ability to run your business confidently.

Join award-winning personal finance coach Dominique Broadway as she teaches you the basics of small business cash flow. In this class you will learn:

  • The two magic numbers every business owner should know
  • The importance of reviewing your numbers consistently
  • Tools available to make calculating your cash flow easy and efficient
  • How to separate personal from business expenses

ABOUT YOUR INSTRUCTOR:

Dominique Broadway, a HoneyBook educator, is an award-winning Personal Finance Coach, Speaker, Finance Expert, and the Founder of Finances Demystified & The Social Money Tour. Dominique has received various accolades such as the Top 30 Under 30 in Washington DC, the DC Future Business Leader of America Businessperson of the Year, and the Top Financial Advisor for Millennials in the US.

Dominique’s demystified financial advice has been highlighted on Yahoo!, Huffington Post, Forbes, USA Today, Black Enterprise, Marketwatch.com, Ebony Magazine, Levo League, Refinery29, and other media outlets. She has a strong passion for working with young professionals, entrepreneurs, and people of all ages to bring their Dreams2Reality.

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