#7 - Managing Your Cash Flows
Homework will be out next week - thanks for your patience!
What does managing cash flows actually mean? Listen today!
· Have any kind cash reserve to start
· Calculate what your monthly average expenses are
· Create a budget & honor your budget
· Run a lean operation
· Understand when you get paid
· Know exactly what your operating expenses are
· Make sure your cash reserve exceeds your operating expenses
· Be mindful of your personality
· Track your successes and failures
· Manage similarly on the personal side