in the game of business, here's a time were less people care about budgeting, and forecasting. There's a big difference between being rich and being wealthy.
Keeping the cash flowing is non-negotiable. Tighten receivables, supercharge billing, and keep inventory on its toes. Money lovea movement, and it loves staying put even less!
In business management, a structure ought to be setup where the business can pay you as a manager and in turn pay back the initial startup cost over a certain period of time.
2/🧵
in the game of business, here's a time were less people care about budgeting, and forecasting. There's a big difference between being rich and being wealthy.
3/🧵
Keeping the cash flowing is non-negotiable. Tighten receivables, supercharge billing, and keep inventory on its toes. Money lovea movement, and it loves staying put even less!
4/🧵
If you're in bussiness, managing money in the right way is a must. Yeah, it has been statically proven that 90% of business fails in thier first her.
5/🧵
A business should be treated as a separate entity from the owner. This is where many business owner make the biggest mistake. Yeah!
6/🧵
The money in that business is not your money, even though the initial capital came from you.
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In business management, a structure ought to be setup where the business can pay you as a manager and in turn pay back the initial startup cost over a certain period of time.
8/🧵
One application that is strongly recommended is the kippa app. This app is designed to help businesses record sales and expenses. Isn't that amazing?
9/🧵
In money management, you need to know where the money is coming from, how the money is coming, where it is going and why it is going there.
10/🧵
On the journey to becoming wealthy, you begin by becoming financially free. The key to become financially free is through your passive income.
#gosh #Finance
https://leofinance.io/@seunruth/the-basis-of-wealth-cashflow-asset-and-liability-