The Fitness Business Podcast
3 Financial Tips For Gym Owners During COVID-19 | Christina Sjahli, On-Demand CFO
Christina Sjahli, On-Demand CFO and Cash Flow Catalyst shares 3 financial tips that club owners can do during the COVID-19 crisis. **THE Fitness Business Podcast is bringing you a series of video interviews with key fitness industry operators from all across the globe during COVID-19. ** STEP 1: DO A SCENARIO ANALYSIS Understand your cash need and the tool to do that is scenario analysis for 3, 6, 12, and 19 months. STEP 2: DO A WEEKLY CASH FLOW After you figure out scenario analysis for 3, 6, 12, and 18 months, go a little deeper and take 3 months and 6 months and break it down into a weekly cash flow for the next 13 weeks Step 3: YOU HAVE TO LOOK AT THE LONG TERM The Fitness Business Podcast aims to deliver weekly education, information and inspiration to fitness business owners & managers or any fitness industry professional. We feature fitness industry experts, consultants and owners from across the globe. We also interview non-industry experts to bring you leading education to help you run your business more effectively, efficiently and profitable! The Fitness Business Podcast is hosted by Chantal Brodrick. Chantal worked for 15 years in senior sales and marketing roles in the media industry before transitioning careers. She began as a qualified personal trainer and group fitness instructor. Realizing she could do more to help the industry, she became a Fitness Business Coach with Active Management. In 2015, she became the host of The Fitness Business Podcast and, since that time, has spent more than 2,500 hours interviewing over 230 business leaders, industry experts and authors. Email: email@example.com Phone: +61 2 9484 5501 Join our community: FACEBOOK: https://www.facebook.com/fitnessbusinesspodcast TWITTER: https://twitter.com/fitbizpodcast INSTAGRAM: https://www.instagram.com/fitnessbusinesspodcast/ #FBPFamily #FBPLive
InFLOW - Episode 60 - Find The Story In Your Stats - Featuring Christina Sjahli
Christina Sjahli is an on-demand chief financial officer, obsessed with the magic of numbers and the stories they tell. Christina loves to show entrepreneurs like you how to use the power of numbers to create a business that fuels the life you want to live -- without the expense of hiring a full-time CFO. Many of us were raised to view money as something that should be saved and never spent. But in reality, cash is king and cash burn rate is equally important. Christina dives into the importance of cash with all of her clients and is kind enough to share her advice with our listeners. For example, do you know why your 13-week expenses are so important? Christina does and tells us more about the importance of this particular metric. (She also warns against judging the health of your company based on fairytale metrics -- those that are always on the up but don’t give an accurate picture of your company.) Christina also talks about the importance of focusing on one thing you’re good at, mastering that one thing, and then moving on to growing your business in other areas. What’s inside: + Find out why so many women have a difficult relationship with money + Learn how to make positive long-term financial decisions + Discover what you should be focusing on (numbers-wise) in your business + Understand the importance of cash burn rate Find out more! + Subscribe and rate our podcast on iTunes at: http://www.michellebosch.com/itunes + Android users can subscribe and rate our podcast at: http://www.michellebosch.com/android + Follow Michelle Bosch on Instagram to see what she’s up to: https://www.instagram.com/michelleboschofficial Connect with Christina! + Visit her podcast website at: www.herceojourney.com
How to avoid cash comatose after a product launch
I was listening to a podcast that spoke about cash flow. The host mentioned if you need more cash during the month, then turn on the "lead" faucet and sell more. I agree that we need to have a solid lead generation machine as that's how cash comes into the business. However, this mindset about selling more and more when you need cash leads to cash comatose. Cash comatose happens when entrepreneurs don't understand when revenue is actually earned. They use the cash received before they serve the client.