18% of small businesses have this in hand. Do you?
Of small businesses that fail, 82% say it’s because of cash flow problems. This is a blessing and a curse.
The curse: Lots (and lots) of businesses do fail — around 70% in their first 10 years.
“According to data from the U.S. Bureau of Labor Statistics, about 20% of U.S. small businesses fail within the first year. By the end of their fifth year, roughly 50% have faltered. After 10 years, only around a third of businesses have survived.” – LendingTree
The blessing: We know from businesses themselves that the primary cause is cash flow problems. And that? We can do something about.
Do you know where you stand?
As the boss, you know your time is better spent on creating revenue than on bookkeeping — but knowing where you stand financially is crucial to your business’ survival.
Many of my clients say they don’t really know where their cash is going.
- Are they profitable?
- Can they afford to hire help?
- Are they paying themselves enough — or too much — or not at all?
- Is there some standard they should be meeting?
- How bad is it that they haven’t updated that spreadsheet they made in the last year?
It’s time to join the 18%.
This is your ticket to the other side. On June 23, I’m hosting the Path to Permanent Profits Masterclass.
Register today to learn how to tell if your business is profitable, increase your profitability and create a sustainable business that pays YOU first.
At this one-hour masterclass, we’ll break down the thorny questions about your books that plague creative entrepreneurs.
I’ll also show you the simple system that will change your business forever. No more confusion. No more spreadsheets.
[Save my spot for the masterclass!]
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