How to Manage My Money in My Firm

Profit Is A Choice

234: How to Manage My Money in My Firm

Joining me on the podcast today is Kelcee with Elite Ops. She has been with us before and we are going to dig into some questions all around the financial aspects, kind of the manage your money, and my program. Thank you for sending in your questions and please continue to do that as we continue working through this series.

Topics Mentioned:

• Pricing

• Cash Flow

• Billing

• Strategic Plan

Thoughts from Michele:

• We can’t measure everything all the time and need KPIs for measuring what is most important.

• KPIs can be determined by knowing the goals your firm has for each quarter and measuring to the goals consistently.

• Build SOPs to support your measuring goals.

• Charging to grow allows for growth and reinvestment in your firm.

• Having a strategic plan is crucial to grow your business.

• Create a plan then build your time and money based on that plan for profitability.

• If you don't know where every dollar goes, you don't know how that time is going to be spent then you need to halt and think about what you're doing.

• Know your process.

• Look at your business in cash and accrual.

• See the 360 view of your business.

• To protect what you are building, you need three to six months of a cushion to carry operating expenses.

• Change allows us to get something different.

Contact Michele:

• Email: [email protected]

• Facebook: Scarlet Thread Consulting

• Instagram: @ScarletThreadATL

• Website: ScarletThreadConsulting.com

• LinkedIn: Michele Williams

References and Resources:

• Work with Me

• Metrique Solutions

• Scarlet Thread Consulting

• Profit First by Mike Michalowicz

• Click here to send questions for Michele

• Metrique 1-month free code: 1mofree