Cashflow: Why Cash is NOT King

Home Service Business Success

How many times have you heard the saying “cash is king?"

But what if someone told you that that’s just a myth ready to be debunked?

In this episode, Kenny Chapman and Chris Crew tackle the myths surrounding cash flow and discuss cash confidence, creating a 90-day cash buffer, having an abundance mindset, and explain why “cash is NOT king.”

Tune in to learn how to keep your business thriving no matter the economic climate.

• In today’s episode co-hosts Kenny Chapman and Chris Crew talk about cash flow and why cash ISN’T king.
• Kenny touches upon the shift that’s currently taking place in the blue collar trade.
• Chris shares what “cash is king” meant to him in the 1990s – and explains why POSITIVE cash flow is king.
• Kenny brings up the concept of cash confidence, the confidence in your ability to generate the cash that you need.
• Chris doesn’t believe that knowledge is power…it needs to be turned into action.
• Remember: truth is knowledge but wisdom is the application of knowledge.
• If you’re saying “my business is debt-free!”, there’s something you’re forgetting.
• Kenny opens up about what a friend from the financial planning space told him about being afraid to “party with his cash.”
• Not being able to manage cash is something Chris sees as a cause of many blue collar businesses going belly up.
• Following Chris’ 90-day cash “buffer” is an advice that saved one of the Blue Collar Success Group’s clients from having his business being forced to close its doors.
• Are you looking for a way to take cash and let it still be working for you without it being tied up? Look at money markets!
• Chris invites you to avoid having such a scarcity mindset that you end up sitting on cash all the time.
• Unlocking an abundance mindset will become a game-changing move for every home service business owner.
• Kenny takes back the curtain on what the “best operator” he had ever met told him.

Mentioned in This Episode:

HomeServiceBusinessSuccessShow.com/8

The Blue Collar Success Group

Frank Blau

HSBS episode 7 - HomeServiceBusinessSuccessShow.com/7

Square

Venmo

Atlanta Falcons

New England Patriots

Happy Money: The Japanese Art of Making Peace With Your Money by Ken Honda

Dave Ramsey

Blue Collar Success Laws: Your No-Nonsense Guide to Problem-Solving, Productivity, & Profit by Kenny Chapman

Home Depot

Robert Kiyosaki