Today on the podcast, Peter Kingma joins Bradley to talk cash. "Cash is king," says business expert Peter Kingma. Without it, your business won’t survive.
You need cash to pay your bills, develop new products, hire additional employees, and so on. With cash, you can take advantage of growth opportunities. If you have too much debt and too little cash, then your business is vulnerable anytime the economy shifts.
Kingma has thirty years of experience helping companies drive operational resilience with better cash management. In his new book, CASH IS KING, he offers his unparalleled perspective on the necessity of developing a “cash culture.”
Get his book at https://www.amazon.com/Cash-King-Maintain-Liquidity-Opportunity/dp/1119983355
In His New Book CASH IS KING, Business Expert Peter Kingma Provides A Framework for Building Organizational Liquidity.
“Few people outside of senior finance executives really understand the importance of cash in their businesses,” writes expert Peter Kingma in his new book CASH IS KING: Maintain Liquidity, Build Capital, and Prepare Your Business for Every Opportunity (Wiley; May 2024). With over thirty years of experience helping companies drive operational resilience with better cash management, Kingma has an unparalleled perspective on the necessity of developing a “cash culture.”
“Revenue is important, but cash is king,” he explains. “In many companies, there is far too often a fixation on revenue alone. Profitable businesses can go out of business without adequate cash. Good ideas can’t get launched, new products can’t be developed, markets cannot be expanded without cash. There needs to be a positive balance between cash inflow and outflow.”
CASH IS KING is not a typical book about finance. Kingma illustrates his advice by telling the story of Owens, Inc., a fictional, mid-sized manufacturing company. Quarter after quarter, as Owens sales grow, the company’s CFO becomes increasingly concerned about cash flow. The business is now more complex. Interest rates are rising, inventory is growing faster than sales, the demand for capital improvements is at an all-time high, and customers are paying more slowly than ever.
Join us at The 2 Day MBA, August 6th-7th 2024. Register free here: https://www.abovethebusiness.co/2daymba-24
This 2 Day Experience from industry leaders is more practical and valuable than a 2 year degree that “qualifies” you to begin a venture. Join us to get the systems, processes, and insights you need to design a business that supports scale.
Thanks to our sponsors...
Club Capital provides monthly accounting, tax, and CFO services for insurance agency owners. Learn more at www.club.capital
BlueprintOS equips business owners to design and install an operating system that runs like clockwork. Through BlueprintOS, you will grow and develop your leadership, clarify your culture and business game plan, align your operations with your KPIs, develop a team of A-Players, and execute your playbooks. Discover our free resources for growing your business at www.blueprintos.com.
Autopilot Recruiting is a continuous recruiting service where you’ll be assigned a recruiter that has been trained to recruit on your behalf every business day. Go to www.autopilotrecruiting.com to get started.
Coach P found great success as an insurance agent and agency owner. He leads a large, stable team of professionals who are at the top of their game year after year. Now he shares the systems, processes, delegation, and specialization he developed along the way. Gain access to weekly training calls and mentoring at www.coachpconsulting.com. Be sure to mention the Above The Business Podcast when you get in touch.
TodayApp is a corporate approved app that allows you to...
Aug 9 202412 mins