Ever been so worried about your cash that you didn’t even check your bank statement for weeks?
Simply hoping for the best when trying to pay for your groceries?
And then almost gotten a heart attack after you found out it’s even worse than you thought because of that 1 big credit card bill you’d forgotten?
How does this translate to your business?
Do you apply the same ‘stick your head in the sand’ strategy towards your cash?
I’m sure you don’t…
I’m sure you know what your burn rate looks like and that you’re already sitting on secondhand chairs to save on money. And of course you’re doing everything you can to reel in the customers. And your vision for the future is even more awesome.
Fact is though that poor cash flow management is one of the biggest reasons why start-ups fail.
They didn’t fail because their products were awful or that they were spending way too much. They didn’t even fail because they didn’t have enough customers.
It’s because they couldn’t pay their bills the moment they needed to be paid.
It seems almost unfair, and to be honest, it sort of is…But it’s also easily fixable if you just know what to do.
So, here’s the inside scoop on consciously managing cash flow (even when you don’t have any accounting skills).
Why Cash Flow Is More Important Than Revenue
You LOVE revenue!
It means that you’ve sold something and that money is guaranteed to come in.
But…exactly WHEN will this money be coming in?
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I decided not to post this… but here we are. I told myself it wasn’t good enough. In actuality I was just scared. A reader saved it when she emailed about her own Impostor Syndrome. I sent her this post and she responded with this:
Well, here it goes…
[One more thing! If you're at all serious about writing a book, I'd love to have you join me for a presentation on how you can become on author before the end of the year. Here is the button to join: Become an Author Here (and to everyone who has already emailed me--I've saved a spot for you in the group but to join the presentation, use the button above. I'm excited to help you write your books before 2015!)]
I’m a fraud and everyone is about to find out. I feel that every time I am about to share something. I feel that right now writing this: I don’t even have impostor syndrome. That’s how bad my impostor syndrome is. I even think I’m faking that. If it’s part of my life, it’s fake. What is impostor syndrome? It’s feeling like [click to continue…]
If you are considering writing a book then join me for a free presentation by clicking here.
85% of Americans in business say they want to write a book. 5% do.
There is no easier way to reach the top 5%.
I’m just wrapping up a book and it’s reminded how awesome it is. My hunch is that you could probably benefit from writing one as well.
James Altucher recently said:
“Every entrepreneur should self-publish a book, because self-publishing is the new business card. If you want to stand out in a world of content, you need to underline your expertise. Publishing a book is not just putting your thoughts on a blog post. It’s an event. It shows your best curated thoughts and it shows customers, clients, investors, friends and lovers what the most important things on your mind are right now.”
Writing a book isn’t [click to continue…]
“Being an entrepreneur is an existential, not just a financial thing.” – Nassim Taleb
I am obsessed with origin stories. Every time I meet someone I want to know why they are the person they are.
If they are where I want to be then I go digging in their history for the secrets that got them to this magical place. This post is the result of years of digging for gold.
Something weird happens after collecting a certain amount of stories. It goes sort of like this (and I mean “sort of” in the most “sort of” sense):
- 0-100 stories: You see paths beginning to emerge. You are convinced the key is out there.
- 101-200 stories: You feel that you are on the cusp of discovering the secret.
- 201-400 stories: You begin to see more subtleties. The keys that aren’t actually keys.
- 401-700 stories: You see so many conflicting paths that you begin to lose faith in finding “a way”. The superficial differences fall away. You come back to the core attributes of entrepreneurs in a big way.
- 700-1000 stories: You begin to appreciate the stories of entrepreneurs as stories—events colored heavily by terrible memories and the narrative fallacy. You fully realize the necessity of self-reliance to an entrepreneurial life while appreciating your dependence on others. The stories make you more self-aware and more present instead of making you feel there is another path you should be on. You realize the importance of context, temperament, and opportunity.
For every entrepreneur there is an equal and opposite entrepreneur
Some entrepreneurs (John Rockefellar and Steve Jobs) read virtually zero books. Others read constantly and say it’s completely necessary (Charlie Munger and James Altucher).
Some entrepreneurs start with zero money (Oprah) while others started with silver spoons (Warren Buffett).
Some entrepreneurs [click to continue…]
Look at your landing page right now. What’s the biggest, boldest and brightest thing you see? If this isn’t something that directly supports your call to action, you’re doing it wrong.
Want to learn the simple concept behind creating a landing page that kicks serious conversion ass? Then listen up.
Visual Weight Impacts the Time a User Spends Focusing
Think of your landing page as a collection of elements all bunched together. There’s text, photos, buttons, boxes and icons. Each of these items has a “weight” associated with it.
The trick to getting users to do what you want is by making the important elements, such as your call to action, appear more important. This is called giving an item more visual weight.
The heavier an object, the more important it appears to the visitor, and the longer they spend focusing on it.
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