How much cash should I have in the business?
On Catapult Your Business, we help catapult business owners one question at a time. In this episode, Casey Clark is joined by Cultivate Business Advisor Jennifer Dreyfus to discuss managing cash in a business.
The hosts emphasize the significance of understanding and managing your business’s cash flow effectively. They discuss common pitfalls that business owners encounter when it comes to handling cash and why it’s essential to proactively plan and monitor your cash.
The episode also explores how to calculate your cash threshold and why it’s important to have a cash buffer in place. Jennifer shares valuable insights on setting up financial projections and tracking actuals, allowing you to make informed financial decisions. They encourage business owners not to be afraid of finance and stress the importance of not relying solely on the bank balance to determine your financial health.
Tune in to gain a better understanding of how to approach cash management in your business and make financial decisions more confidently.