Stephanie Smith – Unlock Your Cash Flow Potential

SEASON: 5 EPISODE: 20 Episode Overview: Welcome back to the Becoming Preferred Podcast. In this episode, we have a true financial powerhouse in the studio, ready to illuminate the often-murky waters of cash flow and profitability  Stephanie is not just a CFO; she's a business owner herself, giving her a unique, boots-on-the-ground perspective on the challenges you face every day. Through her company, New Light Financial Solutions, Stephanie has a knack for seeing right through the surface-level issues and identifying the core reasons why your business might be struggling with profitability and cash flow. Stephanie doesn't just diagnose the problem; she provides a clear path to fixing it. If you've ever felt like you're working harder but not seeing the financial results you deserve, get ready to unlock the secrets to a healthier, more profitable business. Join me for my conversation with Stephanie Smith. Guest Bio: Stephanie Smith is a CFO and a business owner. She uses her financial background to help business owners take the one clear path to generating more cash in their business. Being in the financial world, she can look at a business and spot the underlying reasons why it is not profitable and has poor cash flow. And... more importantly, she knows how to fix it. Resource Links:Website: www.newlightfs.comProduct Link: https://newlightfs.com/resources/ Insight Gold Timestamps: 02:28 My favorite subject was calculus 02:44 If you feel like you need a "just in case thing", then maybe that's not the right path 06:01 We don't always take the time to evaluate how the cash is supposed to be moving through our business 07:30 Where to begin is really following the money 09:27 We actually do Profit First in our business for ourselves 10:48 Why a business can be profitable but still struggle with cash flow 13:26 It's cheaper to get a customer who already knows, trusts and has bought from you, to buy from you again 16:32 H ow much is it actually costing you to sell something? 20:47 I've heard people say, you know, set a a financial date with yourself, with your business 22:26 What every CFO does should be similar regardless of the size 24:33 It's a good idea to start talking with a financial planner about other things that you can do with the business' money 25:56 You should definitely not base all your decisions off of your bank account, or based on the profit number that you have on your financial statements 27:56 I have a podcast that I run called Getting to the Bottom Line 31:53 If they want to reach you, it's newlightfs.com 32:03 We also offer a <a...