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Maintaining Healthy Cash Flow in Your Painting Business

blog

June 23, 2023•1 min read

June 23, 2023

Season 1, Episode 6

Description:

In this episode of "Maintaining Healthy Cash Flow in Your Painting Business," we underscore the importance of cash flow, drawing inspiration from business mogul Jeff Bezos.

We elucidate what cash flow means, how it differs from profit shown on an accrual basis P&L statement, and its critical role in a painting business.

We explore three elements impacting cash flow: profitability, timely cash collection from customers, and strategic vendor payment management. We offer practical strategies to enhance each element, thereby improving cash flow.

Wrapping up, we summarize key points, emphasizing the crucial role of healthy cash flow in the success of your painting business.

Subscribe to the Profitable Painter Podcast

Daniel Honan

Daniel Honan is a former painting business owner and military intelligence officer with an MBA and a degree in Accounting. He's been in your shoes. Everything from cold calling for estimates, in-home consults, managing crews, to running payroll. With his accounting, intel, and painting industry experience, he's put together a back-office system to help painting contractors crush it by helping them know their numbers and what they mean, save big in taxes, and streamline and automate their processes to save time and money.

Back to Blog

Maintaining Healthy Cash Flow in Your Painting Business

blog

June 23, 2023•1 min read

June 23, 2023

Season 1, Episode 6

Description:

In this episode of "Maintaining Healthy Cash Flow in Your Painting Business," we underscore the importance of cash flow, drawing inspiration from business mogul Jeff Bezos.

We elucidate what cash flow means, how it differs from profit shown on an accrual basis P&L statement, and its critical role in a painting business.

We explore three elements impacting cash flow: profitability, timely cash collection from customers, and strategic vendor payment management. We offer practical strategies to enhance each element, thereby improving cash flow.

Wrapping up, we summarize key points, emphasizing the crucial role of healthy cash flow in the success of your painting business.

Subscribe to the Profitable Painter Podcast

Daniel Honan

Daniel Honan is a former painting business owner and military intelligence officer with an MBA and a degree in Accounting. He's been in your shoes. Everything from cold calling for estimates, in-home consults, managing crews, to running payroll. With his accounting, intel, and painting industry experience, he's put together a back-office system to help painting contractors crush it by helping them know their numbers and what they mean, save big in taxes, and streamline and automate their processes to save time and money.

Back to Blog

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