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Episode Info: [smart_track_player url=”http://traffic.libsyn.com/7figureceo/7CEO_045-8_Non-Negotiables_Of_Business_Finance_With_Casey_Graham.mp3″ title=”7CEO 045: The 8-Non-Negotiables Of Business Finance With Casey Graham” artist=”Casey Graham” social=”true” social_twitter=”true” social_facebook=”true” social_gplus=”true” ] How do you take control of your business finances without spending a bunch more time you don’t have and reduce your stress? After starting & selling multiple companies, including a three-peat INC 5000 business, Casey Graham has put together “The 8 Non-Negotiables Of Business Finance” and he shares them in this recent training for business owners, Presidents and CEOs.   LINKS Apply for a Breakthrough Call with Casey: CaseyGraham.com/Action Email your top take-aways and learnings to Casey@CaseyGraham.com   The 8 Non-Negotiables of Business Finance 1. Take Responsibility While you may not be an accountant or certified financial planner, you still must take responsibility for your personal and business finances. Casey learned this the hard way and ended up with a surprise tax bill one year because he wasn’t engaged in the finances of the business. You must make a commitment to keep your eye on the finances and the system outlined in the following non-negotiables. 2. You Don’t Have To Do It All Yourself Just because you’re responsible doesn’t mean you have to do all the work.  There are three people you need to create a financial system that will work for you. 1. Bookkeeper – this person pays the bills, handles data entry and keeps things organized 2. Controller – this person takes the date provided by the bookkeeper and creates reports that mean something for you and your business. They interpret the information and help you see what happened in the future as well as forecast what’s anticipated in the near future. 3. CFO – a part-time or fractional CFO will help you take your business further, faster. They help you see the bigger picture and make long-term decisions. 3. Stay Focused On The Goal What’s the most important number you and your team are focused on? If you have a goal you’re focused on, you’ll be much more likely to hit it versus getting pulled in different directions of options and possibilities. The number could be daily sales or new subscriptions or signed contracts – it depends on your business and the mission you’re on. Once you have this number, have your bookkeeper send a DAILY report of where you are with that goal. 4. Know Where You Are You must know where you are with your finances at all times. Visibility of your income and expenses month to date will help give you clarity and make real-time decisions. Most business owners receive a report on the 15th each month on how the previous month went. This “rearview mirror†approach will lead to getting stuck – you must be able to see where you are what’s coming ah...
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