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5 Money Mistakes Contractors Make (& How To FIX Them!) Alex Little #70 Close The Deal
Manage episode 453088069 series 2862017
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Alex Little, founder of Little Financial, shares how to fix 5 money crushing cash flow mistakes contractors make every day....
3 takeaways on this episode of the Close The Deal Podcast:
Cash Flow Forecasting is Crucial: Accurate cash flow forecasting and bookkeeping are essential for business survival. Without them, you can't make informed financial decisions or ensure profitability.
Detailed Project Estimation Matters: Always include all potential costs in your project estimates. Overlooking small expenses can significantly reduce your profit margins and impact your bottom line.
Protect Your Financial Foundation: Avoid using customer deposits for operating expenses and establish an emergency fund covering at least three months of operating costs to safeguard against unforeseen challenges.
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