March 24, 2025
Mastering Cash Flow: Turning Your Business from Cash-Starved to Cash-Rich
In this essential episode, Michael Barbarita reveals powerful strategies to transform your business's cash flow position. While profit looks good on paper, cash is what keeps your business alive. Discover how to identify and fix the hidden cash drains...
In this essential episode, Michael Barbarita reveals powerful strategies to transform your business's cash flow position. While profit looks good on paper, cash is what keeps your business alive. Discover how to identify and fix the hidden cash drains that plague most businesses, implement proven cash acceleration techniques, and create systems that ensure consistent cash flow even during challenging times.
Powerful Business Strategies is broadcast live Mondays at 12 Noon ET Music on W4CY Radio (www.w4cy.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com). Powerful Business Strategies is viewed on Talk 4 TV (www.talk4tv.com).
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The topics and opinions expressed in the following show are
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solely those of the hosts and their guests and not
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those of W FOURCY Radio. It's employees are affiliates. We
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make no recommendations or endorsements for radio show programs, services,
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or products mentioned on air or on our web. No
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liability explicit or implies shall be extended to W FOURCY
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Radio or its employees are affiliates. Any questions or comments
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should be directed to those show hosts. Thank you for
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choosing W FOURCY Radio.
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Welcome to Powerful Business Strategies, where you will find out
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that everything you have ever learned about growing your business
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is wrong. Finally, a show where you'll learn the right
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way to grow your business by learning business and financial
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strategies that your competition isn't doing. And now here is
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your host resident of NeXTSTEP CFO Michael Barbarita, and joining
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Michael for today's show as an executive moderator is Chooky Obia.
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Welcome to Powerful Business Strategies and the reason why you
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don't hear the more invigorating voice of Chicky o Bo
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welcoming you to the show is because Chucky's wife and
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Chikey recently welcome their daughter, Chelsea to the world. So
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congratulations to Chucky and his wife and Chuky should be
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back on the show next week. So in the meantime,
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my name is Michael Barberina. I'm president of NeXTSTEP CFO
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and Next Step CFO is a fractional CFO and strategic
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immitation firm. Business owners hire us to double and triple
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that profit using business and financial strategies that their competition
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isn't doing. Our vision is to ensure that overwhelmed business
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owners achieve the time, freedom, and consistent profits to build
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a legacy and the life they desire. Our mission is
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dedicated to guiding small business owners to leveraging their time,
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exploding their profits, and building a meaningful legacy. The show
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Powerful Business Strategies and their book of the same name
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as a step toward accomplishing that vision and mission, and
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Chooky and I are both affiliated with a number of
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different organizations and Chokey currently serves as the managing director
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of business development for Better Price, which is a global
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business focused law firm, and in addition to that, Chucky
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and I collaborate to monitorate business roundtables around the country
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and around the world and document those insights as part
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of our book Powerful Business Strategies. But please not that
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the views expressed on this show are our personal views
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based on our own successful experiences. And here's something that
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i'd like to share that I've announced previously. If you
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have a business problem that you would like us to answer,
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a business question or a strategy that you like to
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ask about, please email us ask at NEXTSTEPCFO dot net.
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That is asked at NEXTSTEPCFO dot net. Doesn't matter what
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the business problem is or the question, and we will
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answer it for you. And here's but here's a couple
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of things that we do. Ask one, please state whether
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it is something we can answer on the air or
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if it's confidential, And of course if it's confidential, we
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won't put it on the air, but we'll respond to you,
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but we won't put it on the air. And number two,
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please provide your phone number because business problems can be
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complex and we might need some additional context or clarity.
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That email address again is ask at NEXTSTEPCFO dot net.
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And I also want to point out that we've had
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a couple of questions but they have requested confidentiality, which
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of course we'll always always honor. You know, every successful
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business faces moments that test not just its model, but
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its leaders resolve. Whether it's watching a key employee walk
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out the door with critical knowledge, navigating changing government regulations,
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shouldering tax burns that seem to grow heavier each year,
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or weathering those inevitable seasons when customers simply start buying.
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These moments are not the exception of business. They're the rule.
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They're the crucible that separates temporary success from enduring achievement.
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What distinguishes extraordinary business owners isn't the absence of these challenges,
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but their response when confronted with them. While others see
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the parting talent is devastating, they see an opportunity to
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strengthen their systems. Where others see regulations as obstacles, they
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find ways to turn compliance into competitive advantage. When others
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panic during slowdowns, they use the time to innovate and
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prepare for the inevitable upturn. Remember this, every significant business
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challenge contains within it the seed of an even greater opportunity.
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So young job isn't to avoid these challenges, it's to
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develop the wisdom to extract the opportunity that they can
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the most valuable skill you can develop isn't avoiding problems.
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It's becoming the kind of leader who adapts and converts
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problems into platforms for unprecedented growth. That transformation begins with
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the decision that you won't merely survive these challenges, but
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you'll use them to thrive. You know, every day across America, talented,
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hard working business owners wake up with a not in
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their stomach because they don't have customers. It's not because
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they're not delivering value. It's not even because they're not
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making a profit on paper. It's because they're worried about
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cash flow. They wonder if they'll make payroll this Friday.
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They hope that that a big client payment comes in
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before the rent is do they juggle which vendor gets
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paid this week and which one will have to wait.
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But there's a fundamental truth that can transform this daily anxiety.
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Cash Flow problems are only sometimes about how much money
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your business makes, then mostly about systems, or in some cases,
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to lack thereof the most successful business owners I've worked
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with weren't necessarily the ones with the highest revenue even
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highest profit margins. They were the ones who mastered the
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mechanics of cash flow. Today, I want to inspire you
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with this powerful reality that, no matter how challenging your
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cash position is, right now, with the business systems and strategies,
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or with i should say, with the right business systems
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and strategies, you can move your business from cash starved
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to cash rich. And when you do, you'll not only
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eliminate that not in your stomach, but you'll gain the
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freedom to make decisions based on opportunity rather than necessity.
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That movement from cash starved take cash rich begins today.
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So today we're tackling perhaps the most critical aspect of
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running a successful business, mastering your cash flow. And let
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me start with the stock reality. According to a US
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bank a study, they did eighty two percent of business
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failures due to poor cash flow management, not lack of profit,
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lack of cash. You can be profitable on paper and
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still go out of business if you're run out of cash.
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And as a fractional CFO and strategic implementer who has
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worked with hundreds of businesses across dozens of industries, I've
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seen firsthand how cash flow problems can cripple otherwise successful companies.
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But I've also seen how the right cash flow strategies
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can change struggling businesses if the thriving enterprises with substantial
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cash reserves. So today we're going to explore proven strategies
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to master your cash flow strategies that work regardless of
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your industry, regardless of business size, or regardless of current
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financial position. In our first segment, will identify the twelve
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most common cash flow killers that plaque small and medium
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sized businesses, from inventory management issues to pricing problems too, accounts,
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receivable challenges, and more pointantly, we'll show you how to
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diagnose each of these issues and how they might be
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impacting your business right now. In the second segment will
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dive deep into practical cash acceleration strategies. We'll talk about
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specific techniques to get your get cash into your business faster,
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also manage outflows more effectively, and create a consistent, predictable
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cash flow pattern even in seasonal or project based businesses.
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And finally, in our third segment, we'll explore how to
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create robust cash flow systems that not only solve immediate
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cash challenges, but build long term cash reserves that provide
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both security and strategic advantages. So I just want to
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point out something else too, because I said a little
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just a second ago about even if you're in a
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seasonal business. Well, if you recall, I was in the
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ski business, and what could be more seasonal. And as
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a matter of fact, we closed in the off season.
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We shut the doors because we were a specialty ski
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store and skis was our game, and we didn't sell
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aqua lungs in the summertime. But at any rate, we
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never needed to use our line of credit. We had one,
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it was Foune grant, but we never needed it. We
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never needed to use it in the off season. We
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had enough cash reserves built up to finance our summer
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and so, and those strategies that we're going to talk
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about today are the strategies that I used in order
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to not even touch the line of credit that I
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had in a seasonal business. And what makes this show
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particularly valuable is that most business owners only focus on
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cash flow when they're already in crisis mode. But the
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business that the businesses that truly excel are those that
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implement proactive cash flow management systems before problems arise. And
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these businesses have the flexibility to these opportunities, to weather
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unexpected challenges and to make decisions based on strategic goals
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rather than immediate cash pressures. Big difference, and whether you're
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currently struggling with cashblow challenges or simply want to optimize
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your already stated position, the strategies will share today can
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help you build a stronger, more resilient business because remember,
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it's not just about surviving, it's about creating that financial
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foundation for exceptional growth. So grab that pen and paper
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because the insights you'll gain today could be worth tens
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or even hundreds of thousands of dollars to your bottom
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line and more importantly, today your cash position. And if
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you're driving, certainly don't grab that pended paper, but listen
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to our replay at Powerful Business Strategies dot com. So
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let's dive into the first critical component of mastering your
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cash flow, and that is identifying and addressing the common
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cash flow killers that might be draining your business. Cashflow
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problems are caused by specific issues that can be systematically
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identified in things. So let me walk you through some
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of those cash flow killers that we see across businesses
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of all types and sizes. The way in the first
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major cash flow killer is too much inventory. You know,
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a great retailer in Massachusetts his name was Roger, Butchika
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once said, the less inventory you buy, the more money
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you make. And what Roger meant was is that too
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much inventory can put you out of business quickly. And
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this is the biggest mistake retailers make. It's overbuying, and
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over buying not only kills retailers, by the way, it
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kills distributors who overbuy product and manufacturers who overproduce. You know,
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I once had a client in the distribution business well,
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because of a promotion that didn't meet sales expectations, was
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sitting on a seven year supply of a particular product.
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Now we've got an offer of fifteen thousand dollars to
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move this inventory. But it did and it cost my client.
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That remaining inventory did cost my clients thousand dollars. So
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sixty thousand dollars that cost was sitting there and we
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got a fifteen thousand dollar offer. My suggestion was to
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take the fifteen thousand dollars and reinvest it in fresh,
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fast moving inventory that was turning over eight times per
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year at a forty percent profit. Monitule by doing this
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instead of tying up sixty thousand an inventory that would
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take seven years to move, they generated an additional two
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hundred thousand cash flows that year through the reinvestment of
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that fifteen thousand in the fast moving product. This is
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really really important, by the way, because there are several
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factors why we business owners don't pull the trigger on
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situations like this. Now, they would have never generated that
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much cash waiting for that slow moving stuff to sell,
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not a million years. And this illustrates a fundamental principle
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because of the inventory turnover of more productive inventory, it
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pays to cut your losses and get rid of that
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slower moving inventory. So getting a question from a listener,
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so the question is how can business owners determine the
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right inventory levels for their specific business to avoid this
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problem in the first place. Well, that's a great question.
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The key is implementing what I call an inventory intelligence system,
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and that's a systematic approach to the management of inventory
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and is start by categorizing your inventory into A, B
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and C items based on sales velocity and profit contribution.
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So your A items, typically the top twenty percent that
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generated eighty percent of your profit, should never be out
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of stock and require type management for these items. Calculate
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your optimal reorder point by multiplying your average daily sales
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by your supplier lead, then add a safety stock factor
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based on sales buriability. For B and C items, you
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can be more conservative with stocking levels. Review these calculations
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quarterly as sales patterns change from time to time, but
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most importantly, implement a regular, slow moving inventory review to
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identify and liquid date items before they become seventy year supplies.
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Excuse the reference to the last example. So here's the
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other thing. We need to check our egos at the door.
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All of us, we business owners, never want to admit
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that we made a buying mistake. It's probably one of
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the biggest reasons why we hold on inventory, and as
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a result, we keep the inventory way too long. My
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client would have kept that inventory. We all have purchased dogs,
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no matter how great our buying skills are. We all
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have purchased dogs. Let's let's admit that they're dogs as
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soon as we possibly can, instead of hoping and praying
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that our dogs are really great anyway. The second major
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cash flow killer, I hate to say it. It bothers
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me to say it, but it's the owner's taking too
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much salary or making too many withdrawals. This one hits
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home hardest. The business is doing well, and as a result,
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the owner increases their personal lifestyle, not necessarily too extravagantly,
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but by the way, but more than the business can
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afford if there is a downturn, and so while the
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business is doing well, it's not really feeling the effects
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of the additional salary that the owner is taking. And furthermore,
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