In Episode 159 of the Savvy Dentist Podcast, we are going to talk about an important business metric that we need to understand and consider – maximising cash flow. I share with you five things you can do to enhance your business cash flow, how you can do it and some real-life examples of applying this to your practice or business.
In this episode we discuss:
- 02:07: Understanding business metrics.
- 04:11: The reason why people are not looking into cash flow and why they should.
- 05:02: What is cash flow composed of?
- 05:40: How to convert your business assets into cash flow.
- 06:24: Things you can do with free cash flow.
- 07:19: Mastering and maximising cash flow.
- 07:40: Five things you can do to enhance cash flow in your business.
- 07:46: First: Maximising Revenue
- 09:41: Second: Minimising your expenditure
- 12:38: Third: Reduce accounts receivable days
- 14:25: Fourth: Minimising inventory days
- 15:57: Fifth: Increase payable days
- 17:07: Quick recap on how you can maximise your cash flow.