Episode Details
Back to Episodes
Day 91 - Can you survive the next travel disaster? Understanding Cash Flow
Season 2
Episode 1
Published 6 months, 3 weeks ago
Description
So, maybe you won't experience another COVID or 9/11 - type situation. And we're not trying to be "doom & gloom" on the Travel Agency in a Year podcast. Think of this as the fable of the ant and the grasshopper - which one are you? Rachel K delves into the importance of understanding cash flow in your travel business. She explores the affordability of an operator's salary, setting aside funds for growth and investment, reinvesting in the business using the Profit First method, and the significance of paying oneself and maintaining financial discipline. Full disclosure: Rachel K is not a CPA or financial advisor, it's important to speak with a financial professional to determine your cash flow needs.
Takeaways
- Cash flow management
- Financial discipline
Chapters
- 00:00 Understanding Cash Flow and Quarterly Review
- 06:13 Setting Aside Funds for Growth and Investment
- 12:26 Paying Yourself and Financial Discipline