The Second Deadly Cash Flow Sin - Ignoring Expenses

Prosperity on the Horizon

In this episode, we delve into the second of The 7 Deadly Cash Flow Sins: Ignoring Expenses. Your profits may be silently dwindling due to the colossal creature in the room - your expenses. Neglecting to analyse your monthly expenses with precision is a detriment to your business. To boost your cash reserves and profits, it's time to confront this financial elephant and take control.

We emphasise the importance of Regular Expense Evaluation, advocating for a monthly deep dive with a strategic bookkeeper. The objective is clear: to reduce costs, optimise profit and cash, and maintain control over subscriptions. Subscriptions, often an unseen financial danger, are explored. Unchecked subscriptions, some redundant and auto-renewing, can quietly drain profits and pose cybersecurity risks.

Turning the sin of 'Ignoring Expenses' into profit demands a strategic and proactive approach. Actionable steps for businesses are outlined in this episode.

The key takeaway is clear: you can't improve what you're not measuring. Ignoring expenses only perpetuates the problem. To overcome this cash flow sin, book yourself in with a strategic bookkeeper to pave the way for improved financial health and profitability.

Remember, unchecked expenses silently erode profits, so don't let them!

To help you on your journey of building a thriving business with healthy cash flow, I’ve created this podcast series to highlight the biggest mistakes that prevent businesses from succeeding. To assist you in maintaining a healthy cash flow in your business, I walk you through The 7 Deadly Cash Flow Sins and give you tips and strategies on how to overcome them.

You can grab a free copy of my e-book ‘The Seven Deadly Cash Flow Sins’ right here, right now.

You can also subscribe to our ‘Prosperity Playbook Bulletin’ to get notified when a new podcast episode is released, and of course you will get a lot more value out of it.

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If you’d like to find out more about Julianna and her business, visit www.horizonaccounts.com.au or follow her on LinkedIn and Instagram @horizonaccounts

Stay tuned for the next episode of Prosperity of the Horizon, the podcast that transforms businesses through the power of numbers and the story behind them.