26. Consistent Cash Flow: Practical Strategies for Business Owners with Summer Morris

Summer Morris is a Certified Public Accountant and Quickbooks online expert. Before starting her own accounting firm in 2014, she gained a wealth of experience in various corporate accounting and finance roles focusing on financial accounting, project accounting, ROI analysis, cost accounting, internal auditing, and excelling in financial statement preparation, tax analysis and regulatory compliance.

She completed her Bachelor of Science degree while working full time and would later launch her own company, again while continuing to work full time.

Summer outlined the true “success rate” for businesses these days. She confirmed that cash flow management is the #1 reason for business failures and went on to address many reasons why that may be, such as commingling of funds, charging too little, or allowing clients to pay too late.

The discussion included:

• Where to start in order to determine cash flow
• Practical strategies to increase cash flow
• The correct way to onboard a client and generate income from day one
• A different way to calculate how much to set aside for taxes

In addition to the financial advice, Summer’s personal story is fascinating and she revealed how she started her business, creating a website, setting up a phone service, establishing a physical office and marketing her business while still working a full time job.

Contact

Site: https://summermorriscpa.com/

Also mentioned during the show:

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