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Your company needs cash flow to survive, just as you need air to breathe. Many small business owners avoid financial management due to intimidation by financial statements, a preference for marketing, reliance on bookkeepers, or a busy schedule. It's crucial to regularly review your financials, as they reflect your company's health. This video aims to simplify financial management by covering three key concepts. The first concept is cash flow: understanding when money comes in and goes out is essential. Timely bill collection and payments help maintain stability and prepare for emergencies. Seasonal businesses need to plan for expenses like rent and utilities during off-peak months.
