Business Basics: Why Cashflow Is Crucial, And How To Manage It Properly In Troubling Times

With unprecedented amounts of businesses shutting down worldwide, it’s time for us to talk about business basics.

For a business to make it through tough times, they have to have to understand cash flow.

Failing to understand why this is important, or how to have a positive cash flow, will result in an unstable business.

Listen now to find out how you can adjust your business practices to ensure you have a positive cash flow to keep your heads above water in 2020 and beyond!

In this episode you’ll discover:

  • What the #1 reason businesses go under is
  • Why many businesses are facing the same problem right now (and how to overcome it)
  • Why some business models are more prone to issues than others
  • How to drum up demand for your services on the spot
  • How to get guaranteed income
  • Why it’s best to get paid in advance
  • How deferring expenses can rescue your business
  • Why downsizing is the best way to save most studio businesses
  • Why flexibility is the key to a successful business

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Quotes 

“To build a business that’s bomb-proof, you have to be in control of your cash flow.” – Chris Graham

“I’m under the impression that right now, for the foreseeable future, you do not need a commercial recording space. Period.” – Brian Hood

Episode Links


Websites

Filepass – https://filepass.com

456 Recordings – www.456recordings.com

Chris Graham – www.chrisgrahammastering.com

Bounce Butler – http://bouncebutler.com

Lij Shaw – https://www.thetoyboxstudio.com/lij-shaw/

Courses

The Profitable Producer Course – theprofitableproducer.com

The Home Studio Startup Course – www.thesixfigurehomestudio.com/10k

Facebook Community

6FHS Facebook Community – http://thesixfigurehomestudio.com/community

Instagram

@chris_graham – https://www.instagram.com/chris_graham/

@brianh00d – https://www.instagram.com/brianh00d/

YouTube Channels 

The Six Figure Home Studio – https://www.youtube.com/thesixfigurehomestudio

Send Us Your Feedback!

The Six Figure Home Studio Podcast – podcast@thesixfigurehomestudio.com

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Using Instagram Marketing To Build Recurring Income As A Music Producer – With Mark Eckert – https://www.thesixfigurehomestudio.com/using-instagram-marketing-to-build-recurring-income-as-a-music-producer-with-mark-eckert/

How You Can Make Marketing 10x Easier By Using “The Motown Model” (Another Blue Ocean Niche) – https://www.thesixfigurehomestudio.com/how-you-can-make-marketing-10x-easier-by-using-the-motown-model-another-blue-ocean-niche/

Podcasts

The Wealth Standard – https://thewealthstandard.com/

Products

Muse 2 – https://choosemuse.com/muse-2/

Music

Rebecca Black – “Friday” – https://youtu.be/kfVsfOSbJY0

Books

The Automatic Customer by John Warrillow – https://www.amazon.com/Automatic-Customer-Creating-Subscription-Business/dp/159184746X

Automatic Episode Transcript — Please excuse any errors, not reviewed for accuracy

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