Common Sense Cash Flow: The Profit Habit Cash Management System
Tuesday, February 27 | 10:15 - 11:15 AM
LVCC - West 229
What It's About
Are you constantly looking at your bank account and making business decisions based on the balance? If so, you’re not alone. While more detailed financial reporting may be available, construction professionals don’t always have the best habits, let alone the time, to depend on those as much as they (or their CPA) might like. This session introduces you to a cash management system that leverages those common sense instincts to rely on your cash flow—The 4-5-3 Profit Habit. Using five simple bank accounts prioritized for your construction business, you can fund your tax liabilities, eliminate debt, streamline production, and most importantly, keep profits flowing. The best part. you can do this without perfect books or the help of your accountant.
What You’ll Learn
- Learn the 4-5-3 Profit Habit frameworka simple system to guarantee profits for the business.
- Design a cash management system using five priority bank accounts.
- Create a debt elimination plan for your business that generates cash for future purchases and expenses.
- Understand how to leverage Parkinson's Law and normal human behaviors to establish best practices for operating your construction business.