Business coach and mentor Brad Flynn used the COVID-19 shutdown earlier this year to achieve something he had been keen to do for 15 years – write a book to help people find more cash in their businesses.
The result is Find Your Cash, a guide to finding an extra $100,000 in your business in the next 12 months.
Brad says it only took about four weeks to write and it’s designed to be a quick and easy-to-read resource for busy business owners.
“It’s stuff I talk to people about all of the time. I had huge chunks of uninterrupted time to put it on paper,” he sayd.
He’s drawn on 20 years’ experience working with businesses and the knowledge he has gained along the way.
“The biggest challenge for business owners is not understanding basic numbers in their business,” Brad explains.
“The book makes it really simple to understand your numbers.”
It features 17 strategies to ‘realise additional cashflow that can be generated quickly and easily, no matter what the business’.
Some of the strategies covered include bringing cash into your business, avoiding the dangers of discounting (a 10 per cent discount can result in a 25 per cent cut in profit), cutting costs and reviewing fixed expenses.
Brad says many business owners were afraid to negotiate with suppliers on the price of stock and other items needed to run a business, and averse to increasing prices.
“Most business owners don’t know how to keep score – sport is easy, but business is a bit more complex,” he says.
“People have to be conscious of cashflow because we don’t know what’s going to happen (with COVID-19 and possible shutdowns),” he explains.
The tips can be applied to businesses of all shapes and sizes, and he’s already received plenty of positive feedback.
Brad says statistics show 80 per cent of businesses fail in the first five years and of the 20 per cent remaining, just 20 per cent will make it to their 10th birthday.
He wants to build confidence in business owners, so they can believe in what they’re doing and have confidence in the numbers.
“You don’t need to be a rocket scientist. It’s really easy once you know what numbers to look for,” he says.
For more information, or to order a copy, visit findyourcash.global.