Missed our webinar on cash and faith-based businesses? Don't worry, you can watch the replay! Pete shared valuable insights on the importance of cash flow, profit, and stewardship. Watch now and take your business to the next level.
Key points include:
Cash as a tool: Cash is essential for efficient transactions and can be used to support others and grow a business.
Profit and cash: Profit is the bottom line on an income statement, while cash is the top line on a balance sheet.Profit can be converted to cash and reinvested in the business.
Biblical perspective on profit: Profit is a biblical concept, but the way it's made is important.
Fair profit: A fair profit is considered to be between 7% and 14% based on the parable of the talents.
Ownership vs. stewardship: The speaker emphasizes the importance of stewardship in business, focusing on giving back and using profits for good.
Cash conversion cycle: This is the process of converting resources into cash, and it's important to manage it efficiently.
Cash flow: Cash flow is the difference between your bank balance at the beginning and end of a period. It's crucial for business health.
Is your faith-based business thriving? Our free assessment can help you determine your strengths and weaknesses. Evaluate your performance on the 5 critical success factors, including cash flow. Request the assessment.
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