Hi
I got two new clients about six weeks ago. One was a Chiropractor who was having difficulty paying rent and making payroll. The second was an air conditioning service company that was making several million dollars but the owners were always "broke".
Both thumped their chests, which they should have done because they had a record 2019. I was confused why both of them were having difficulty paying payroll and rent if they had record years.
When I looked at their profit and loss statements, both businesses were profitable. Then why were they both feeling broke?
The answer lies in these two words CASH FLOW. The only thing that matters in your business and the only thing that will pay your bills is CASH IN THE BANK. The Chiropractor had his money tied up in accounts receivable. The air conditioning company had their money tied up in inventory. While on paper they looked great in reality they could not spend their A/R or their inventory so they were broke. For example it is like
being house rich (you have a huge expensive house) but you are cash poor (you do not have enough spendable cash to pay for that big beautiful house and be able to do other things too).
After six weeks of working with each of them, they are both flowing cash positive and their entire operation is in a positive upswing.
Here are the biggest mistakes that I see small business owners making:
1. They think the answer to their practice or business problems is to get more new business. They spend inordinate amounts of time creating and paying for new patient/client campaigns instead of focusing on the profitability of each existing patient/client/customer. This is how small business owners spend themselves into bankruptcy instead of focusing on what matters most-PROFIT!
2. They do not understand basic statistics and accounting. They think that profit on a P&L means they are making money. Profit on your P&L is only a paper representation. Your true profit is based on cash flow and what money you have readily on hand. Eg. If your P&L says that your profit was $100,000 but you have $10.00 to spend then your your cash flow and buying power is $10.00.
3. They do not understand profit and how to monetize every single aspect of their business.
If you want to be helped to get to the next level I want to help you! I AM ALSO GOING TO ASSUME ALL OF THE RISK. Since I know that I will help you grow and make more money I will give you a written guarantee. Plain and simple, we will cut your costs and increase your annual revenue by TWICE the amount that you pay us within the first 30 days of working with us or your money will be refunded. The same for the following month and then next. The bottom line
is...your coaching will be free and paid for by what we teach you.
My competitors hate me and I understand why. We walk the talk and put our money where our mouth is and they do not.
LET'S ROCK!!!
Obsessed with your success,
Paul Inselman
