GRATEFUL FOR FEAR AND RESILIENCE

During my morning practice on this Thanksgiving Day, I read a passage on resilience from Oprah's book, 'What I know for Sure"  (I shared below)

It made me reflect on how I am grateful for the last two years as I made a decision to take on fear.  I found myself tired of operating from fear based on peoples words or my wild thoughts.

What did I do?  I studied fear ..  I leaned into fear and I got curious.  I asked myself internally, what do I need for myself to get beyond fear.  . in anything.  I also asked, what am I learning from fear?  I came to the understanding that when I and others are scared, and not feeling safe, we will use words to create an illusion of battle or protection.  I was experiencing this with myself and others.

So I bought a couple of books - "Fear" Essential Wisdom For Getting Through theStorm" by Thich Nhat Hanh and Gabrielle Bernstein's book - May Cause Miracles. I read, reflected on each word that spoke to me every day for 40 days.  Pretty powerful stuff.

So I offer this, when you operate from fear . . stop and ask yourself, what do I need to get beyond fear?  and What am I learning from fear.  . then listen to the little voice inside, reflect, be curious and study for YOU and see what you need for yourself to move beyond fear.

Happy Thanksgiving.  I am grateful for you.

Warmly -

Debbie

What I know for Sure - Oprah Winfrey

Every challenge we take on has the power to knock us on our knees.  But what's even more disconcerting than the jolt itself is our fear that we won't withstand it. When we feel the ground beneath us shifting, we panic.We forget everything we know and allow fear to freeze us. Just the thought of what could happen is enough to throw us off balance.

What I know for sure is that the only way to endure the quake is to adjust your stance.  You can't avoid the daily tremors.  They come with being alive.  But I believe these experiences are gifts that force us to step to the right or left in search of a new center of gravity.  Don't fight them.  Let them help you adjust your footing.

Balance lives in the present.  When you feel the earth moving, bring yourself back to the now.  You'll handle whatever shake-up the next moment brings when you get to it.  In this moment, you're still breathing.  In this moment, you've survived.  In this moment, you're finding a way to step onto higher ground.

BABY STEPS - STEP 3 OF A 3 STEP ACTION PLAN FOR MANAGING CASH

"Gross revenue means nothing if, at the end of the day, you have no operating cash." ~ MIKE MICHALOWIZ

For a good twenty plus years, I managed cash daily, weekly, monthly and quarterly at the privately held companies I worked for.  Consistently working cash flow so we were prepared for anything.

Step three for managing cash is using a 52-week cash flow projections.

This is a 52 week spreadsheet that tracks cash receivables coming in and cash payables going out. Cash Receivables are listed at the top. You can create a variety of categories for cash coming in.  Examples, receivables from various areas of the business, coaching, products,, events, and seminars, etc.  Cash going out categories, inventory, then list your various vendors if that is how you want to track purchases. Commissions, payments to contractors, weekly or bi-weekly payroll, plus normal monthly expenses, rent, utilities, electricity, natural gas, phone, internet, water, lease payments, car payments.  The 52 week cash flow spreadsheet is a cash story book, it tells you where you have been, how you performed and the variances that have occurred, which will allow you to realign how you are managing cash.  At the end of the spread sheet it tells you if there is lots of cash left over for the following week, or not enough to cover you, so then you can plan to borrow or adjust what will go out.

Why manage cash weekly? This is the path that provides knowledge and direction for your financial goals for your business and life. This is a tool used to see where you are and where you are heading at all times. Knowledge is power. Mapping out cash coming in and going out weekly, allows you to see and plan what is needed.

A question I am constantly asked - Why do I need to manage cash flow daily when I use QuickBooks.?

Great question - the answer - CASH is KING. Cash is worked daily, weekly, monthly, quarterly and annually.  Cash is the lifeblood of every business. If you don't manage the cash coming in from accounts receivable and going out, accounts payable you run the risk of putting yourself out of business.  When you don't manage sales and accounts receivable you run the risk of missing income. (See previous post ) If you are not managing your expenses. i.e. accounts payable you can run the risk of negative circumstances where you have to scramble.  The numbers are only information, with that information, you make choices and decisions how to move forward.

Business's fail with poor cash flow management, so why run the risk?

As I have shared in earlier posts, create that new muscle, a new habit and learn how to work your cash flow differently.  Cash happens right now, in this very moment when you receive a payment or are purchasing goods or services. Working cash daily and weekly forces you to look at and plan.  You are the CEO of your business and the CFO. Lead your finances as you lead your business.

Remember, CASH is KING, so you need to know where you are at all times.

Creating simple, easy baby step habits opens the door to new possibilities for you and your business.

Get in to action, and get cracking on managing your cash every single freaking day. Do you get my drift.  Your business will grow, grow, grow and so will you when you manage what matters.  CASH is KING!  If you have any questions or need help with managing your cash, reach out and ask for help, e-mail me at d.rosenfelt@cfomadeeasy.com to set up an appointment to discuss your needs.


Warmly -
Debbie Rosenfelt
President / CFO / Leader-of-the-Heart

BABY STEPS - STEP 2 OF A 3 STEP ACTION PLAN FOR MANAGING CASH

For a good twenty years, I managed cash daily, weekly, monthly and quarterly at privately held companies I worked for.  Consistently working cash flow so we were prepared for anything.

Step two for managing cash is using a weekly cash management tool.

This is a 52 week spreadsheet that tracks cash flow going in and coming out of your bank accounts. General checking, payroll account (If you have a separate account) savings account, and line of credit. In addition, this spreadsheet tracks accounts receivable, account payable and any credit card debt you may carry. 

Using this tool will have you looking at your accounts consistently and the tool allows you to manage and plan, when you need borrow from a line of credit, pay down the line, and or transfer money into savings.
For the gym, we have a savings account and we sock $500 to $1000 each month to cover the semi-annual real estate property taxes.  In addition, if there is more than enough we will put additional funds aside to cover new equipment for the gym.


Why manage cash weekly? This is the path that provides knowledge and direction for your financial goals for your business. This is so you know where you have been, where you are and see where you are heading at all times. Knowledge is power. Mapping out cash coming in and going out weekly, allows you to see and plan what is needed.


A question I am constantly asked - Why do I need to manage cash flow daily when I use QuickBooks.?


Great question - the answer - CASH is KING. Cash is worked daily, weekly, monthly, and quarterly.  Cash is the lifeblood of every business. If you don't manage the cash coming in from accounts receivable and going out, accounts payable you run the risk of putting yourself out of business.  When you don't manage sales and accounts receivable you run the risk of missing income. (See previous post ) If you are not managing your expenses. i.e. accounts payable you can run the risk of negative circumstances where you have to scramble.  The numbers are only information, with that information, you make choices and decisions how to move forward.


A short story about cash flow. Back in 2008 I was working with a company that sold goods wholesale to large retailers.  There was one company that we had to constantly monitor as there were rumbles of bankruptcy in the air. Frightening, especially when there was over $500k in outstanding receivables. They continued to make promises to pay, however at the end of June we were notified they filed for bankruptcy protection. 


The good news, we had one advantage, our product the business was selling, was their best seller. They needed our product.  I immediately created a letter to the President of the company that filed bankruptcy stating all sales will be paid in advance by a wire. The President agreed. How did we do with cash flow? The cash sales from the bankrupt company funded our growth as the business grew 74% that year. You need cash to grow.


Your business will fail with poor cash flow management, so why run the risk?

Create that new muscle, a new habit and learn how to work your cash flow differently.  Cash happens right now, in this very moment when you receive a payment or are purchasing goods or services. Working cash daily and weekly forces you to look at and plan.  You are the CEO of your business and the CFO. Lead your finances as you lead your business.


Remember, CASH is KING, so you need to know where you are at all times.Creating simple, easy baby step habits opens the door to new possibilities for you and your business.

Next is step three - Cash Flow Management - Planning and mapping out sales i.e accounts receivable, expenses, i.e. accounts payable and credit card debt weekly.


Get in to action, and get cracking on managing your cash daily. If you have any questions or need help with managing your cash, reach out and ask for help, e-mail me at d.rosenfelt@cfomadeeasy.com to set up an appointment to discuss your needs.

Warmly -


Debbie Rosenfelt
President/CFO

WORDS, WORDS, WORDS

How do they land, when you hear words?  Do you hear the words from your mind, or your heart?  How do they speak to your heart?  Or do they speak to your ego?

Words are what our mind grasps.  . and hangs on to.  Words are used to live, perceive, interpret, and create.

I came across the below message from Novembers Science of Mind and thought it would perfect to share, to provoke your mind.  . the message is simple, yet profound.  take heart . . this is a good leadership tool to consider . .

"I pulled out my bag of words and emptied them on the table so I could get to know them better. I like to chew on the tough ones and enjoy their flavor. I place the ones that easily melt with the very hard ones. I spend time writing words I like and have never used.

I am tender with words used in the language of love. Some of the bigger ones like anaconda, if not watched, will squeeze the life out of words like puff.

Words like judgment will try to stand on top of words like compassion and forgiveness and, if not watched, will steal the life from them. Words like hate self-justify and get along poorly with

most other words. Some people use the word love like soft butter and spread it on everything. When overused, it can lose its meaning. Words like sex undress the mind, while words like arrest scare people.

There are a million words to make friends with. It is important to remember that words have only as much power as you give them. Words are yours to use, but you cannot own them, and they do not own you. When people use words against you, bless and release them. They are not yours, and you don’t have to keep them. Words are tools that unlock the mind; it’s all in how you use them."

Each day as life moves through us we are to be present to the words. 

Be present to the words that show up in your daily life.  . listen to what they have to say. .  listen to the deeper underlying message. 

Want presence . . there is plenty

Would love to support you on your journey of leadership . . business and life. 

Reach out  . . to be heard you . . to be seen.  .

I am grateful for you.

With love and many blessings . .

Debbie