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I went through a few sticky phases when running the plumbing business.
Back in 2016 we were doing more and more commercial water and gas projects for £50k at a time and it was during this period that cashflow became very tricky.
During phases like this, I always found that more information was better and that sticking my head in the sand didn’t help anything.
Projects HAVE to be delivered in order to get to the finish line and get paid at all, so managing your cashflow is an absolute must.
I used float to help keep on top of things.
It connected with our xero account to give us the clearest view of our cashflow and predicted the points at which we would struggle so that we could take action before things got really bad.
How closely do you monitor cashflow in your business?
Do you use a cashflow tracking tool? Do you have an emergency fund or some level of financial buffer to help you weather the storms?
Hi, I’m Hazel. I’m a Business Systems Specialist + ServiceM8 Gold Partner.
I can help you craft a business that’s easy and efficient to run.
I ran a plumbing and heating company for 10 years and in 2016 became a ServiceM8 Partner.
I’ve worked with hundreds of business owners just like you to implement easier and more efficient ways of running their business.
My mission is simple: to inspire you and help you develop an efficient and profitable business that gives you the time to do more of what you love.
