AM 0002: Which Business Finance Stats Are the Most Fundamental to Track During Times of Uncertainty?

AskPat 2.0: A Weekly Coaching Call on Online Business, Blogging, Marketing, and Lifestyle Design

Pat Flynn

Business Advice, Marketing, Podcasting, Getting Started, Business Strategy, Business, Small Business, Passive Income, Online Entrepreneurship

4.9 • 638 Ratings

🗓️ 17 April 2020

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, I once again turn over the show to my business partner, friend, and CFO/COO of SPI Media to Matt Gartland. He answers a question from Brent, who has his own counseling business, what financial stats he should be monitoring during this time of the COVID-19 crisis. He's getting tons of business right now because so many people are seeking out counseling. And he wants to know how to manage his cash flow. Like many counselors, he doesn't have an accounting or finance background. Matt gives his thoughts about cashflow balances, burn rate, and interest rates. Listen in and learn more!If you enjoyed today's episode and you love the format of this show and helping other entrepreneurs, can you help me convince others to listen too? All you have to do is leave a quick review and rating on iTunes (and subscribe if you haven't already). That would mean the world to me, so thank you so much! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Ask.
0:04.0	Ask Pat.com.
0:07.0	What's up everybody?
0:11.7	Patflin here and welcome to another special edition of Not Ask Pat, but Ask Matt.
0:17.5	Matt Garland is the C-O-O-N-C-F-O of SPI Media. He works right alongside me to help make the
0:24.8	business run and make it run smoothly. He's awesome. He's amazing. He has a ton of superpowers. And in light
0:30.2	of all the craziness that's happening here in early 2020, we wanted to step up and produce some
0:35.1	more stuff for you to help you out. And we asked the audience for a couple questions that might better be answered by Matt.
0:41.4	Matt, by the way, fun fact, if you hadn't heard already, he and I were born on the same day in the same year, December 6th, which is kind of crazy.
0:49.8	Unreal.
0:50.3	So we share that and we also share our love for helping serve you too. So this question
0:55.8	today is coming in from Brent and Brent will be followed up by Matt right after. So again,
1:01.2	here he is Brent and then followed by Matt Gartland C-O and CFO of SPI Media. Then I'll come
1:08.2	in at the end with some final words. But this episode, the last one, and the next one will be an ask Matt for you.
1:13.8	And we're pumping these out this week for you quickly so we can help you out during this time.
1:18.1	So here we go.
1:19.5	Here's Brent.
1:21.1	Okay.
1:21.7	So before all this happened, I was working on building a customized financial dashboard to monitor cash flow and expenses
1:30.4	and other financial things for my solo counseling business.
1:33.6	I'm a private practice owner in Atlanta, Georgia.
1:36.9	It's obviously all the more important right now.
	...

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