How and Why You Should Set Up a Cash Reserve [Ep 20]
Manage episode 312876234 series 3249302
In this episode, Beth explains to us why it's important for business owners to create and maintain a cash reserve. Beth has seen it all during her 20+ year career, and there are two tasks always starts with when she comes in to do a turnaround on a business: Getting a cash flow projection established, and starting a cash reserve. Tiffany and Beth discuss practical steps you can take right now to start this process, how to maintain the reserve, and what your options are if you need cash now and don't have a reserve. Plus, Beth shares something that you should "never, ever, ever, ever, please don't ever do...".
Full Show notes can be found here: https://www.kenzacollective.com/blog/how-and-why-you-should-set-up-a-cash-reserve
Also, we released a big announcement in this episode!!
We published our very first course! It's called You Can Do This: A course for busy parents to learn the basics of starting their own freelance or consulting business.
If you’ve been on the fence about going out on your own, nervous about how to actually run the business and operations side of things, or not sure how you’ll find clients, price yourself, and juggle it all, now’s the time to educate yourself and get out there! This course will teach you how to:
✓ Figure out what service(s) you’ll offer to potential clients.
✓ Price yourself based on value, not on an hourly rate.
✓ Find clients and dispel the myth that you’ll always be hustling for business.
✓ Understand and set up a streamlined financial structure.
✓ Pay taxes and know when it’s time to get expert help.
✓ Get your online presence cleaned up and ready to go.
We’re also including multiple templates, additional downloads, podcast episodes and more, so that you can go deeper on any topic.
Update: this course is now LIVE! https://www.kenzacollective.com/youcandothis
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