Sin #4 - Ignoring the Gap Between Receiving and Paying Out Money

Prosperity on the Horizon

Welcome back to Prosperity on the Horizon! In this episode, we delve into the critical topic of payables management, exploring the risks, consequences, and actionable strategies to bridge the gap between outgoing and incoming cash flow.

Paying out money for bills, wages, tax obligations, and loan repayments before receiving payments from customers is a risky dance with cash flow pressure, and that's the sin on our radar today. Is your business in jeopardy, even if it's profitable but out of cash? We explore the answer and prevention strategies.

We break down our recommended strategies into actionable steps for you. Our aim is to help you implement some seemingly small changes which will have a profound impact on your long-term business health.

Ignoring the gap between receiving and paying out money has far-reaching consequences. The episode highlights how this sin goes beyond the balance sheet, impacting a business's overall health and growth potential.

Remember, running out of cash, even for profitable businesses, can spell disaster. Join us in understanding and addressing the sin of poor payables management for the prosperity of your business.

If you are listening to this series, chances are you are already on your way to exploring your numbers with a desire to understand and master your business finances, realising the transformative power that numbers hold for your business success.

To help you on your journey of building a thriving business with healthy cash flow, I’ve created this podcast series to highlight the biggest mistakes that prevent businesses from succeeding. To assist you in maintaining a healthy cash flow in your business, I walk you through The 7 Deadly Cash Flow Sins and give you tips and strategies on how to overcome them.

You can grab a free copy of my e-book ‘The Seven Deadly Cash Flow Sins’ right here, right now.

You can also subscribe to our ‘Prosperity Playbook Bulletin’ to get notified when a new podcast episode is released, and of course you will get a lot more value out of it.

Where to find us:

Available on all major podcast platforms: Apple Podcasts, Spotify, Google Podcasts and Amazon.

Subscribe on your favourite podcast app to stay in the loop with every insightful episode.

If you’d like to find out more about Julianna and her business, visit www.horizonaccounts.com.au or follow her on LinkedIn and Instagram @horizonaccounts

Stay tuned for the next episode of Prosperity of the Horizon, the podcast that transforms businesses through the power of numbers and the story behind them.