Jun 26, 2020
Gold Nuggets in this Episode:
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Businesses need to understand where they're going, understand their numbers, keep an eye on things, and get help from pros like you guys, that is how you can thrive long-term and how you can make decisions that make sense.
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Growth is one of the most dangerous times for a business, extreme growth, especially, because you have to have capital there. You have to be able to build. You have to be able to grow, and it can be honestly out of control, and businesses can run out of cash so quickly.
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70% of businesses, well over half, that fail were profitable when they went out of business.
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Every business needs to know the length of its runway - the amount of time until they run out of cash.
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When it comes to cash flow knowing is always better than not knowing because not knowing is not going to save your business.
Our guest is Blaine Bertsch, the co-founder and CEO of Dryrun, which is a cash flow management software, he’s also the author of the book, The Pandemic Cash Flow, a book designed to help people understand the concept of cash flow, but, more importantly, perhaps how to avoid the pitfalls and the challenges of managing cash flow.
Song by Adam Vitovsky / CC BY 3.0