Overcoming debt

A big problem for many service professionals is learning how to manage cash flow. The cash in the bank isn’t there for spending. It is generated by sales and the gross margin dollars that are earned on those sales is used to pay expenses. The remainder is profit. If cash is spent before allocations then it is very difficult to pay obligations. In many instances, loans are taken to pay bills and overspending stresses the business and the owner. They each have a story on how to manage or eradicate debt, grow sales and scrutinize expenses. Knowing your financial states including Profit or Loss Statement and most importantly your Balance Sheet will help. Knowing what your metrics or tolerances of spending and cash management will lessen your dependence on borrowing and putting your company in harm’s way.

Listen to the podcast here.

With over 400 collective episodes between Remarkable Results Radio, the Town Hall Academy and the new show ‘For The Record’ you have the power of the spoken word in these long-form audio interviews. They are the perfect learning tool for the aftermarket forever student.

Carm Capriotto hosts the industries premiere podcast content library where service professionals, technicians, business coaches, educators, and industry executives among others bring raw, unfiltered, honest, and sincere stories that shaped their success. The podcasts also bring you insights, trends, best practices and stories of personal achievements.

Listen on your favorite podcast listening app or on https://remarkableresults.biz/episodes. These are “Conversations Worth Hearing!”