On this short 15 minute podcast, this team does a deep dive into how cash flow management can transform your business finances to move you from stress to success using the simple, but powerful software tool called Cash Flow Mojo®
Transcript
All right. So, uh, today we’re going to be taking a look at some marketing materials from Cashflow Mojo. Okay. Um, and they’re a software and coaching service that helps businesses manage their cash flow. Yeah. But, uh, what’s really interesting is we’re going to try to pull out some tips and insights that apply to any business.
Absolutely. Whether you use the software or not. Yeah. So think of this deep dive as a crash course in getting your financial house in order. I like that. So, um. One of the things that I find fascinating is. How Cashflow Mojo really starts by addressing that fear that a lot of business owners have of just not having enough cash.
Too much debt. Yeah. And no savings. Yeah. And they really hit on that emotional appeal of wanting to have peace of mind. Oh, yeah. Totally. I mean, I think we’ve all been there. Right? Like when you’re not sure if you can make payroll or cover those unexpected costs. For sure. Nobody wants to be stressed about money all the time.
That’s exactly what they’re getting at. Right. The Cash Flow Mojo® software system promises these businesses that they’ll be able to, Increase their income and profits, pay down debt, and start saving. Not just for those emergencies, but also for things like expansion and even retirement. That’s great. It’s a powerful message. It really is.
And they’ve been doing this for a while. Okay. Over 30 years actually. Wow. And they work with businesses in over 50 industries across 34 countries. So they’ve pretty much seen it all then, right? Yeah, they’ve got a lot of experience under their belt. That’s impressive. Mm hmm. So, um, what makes their approach unique?
Okay. Because, I mean, there’s a ton of accounting software out there. That’s where it gets interesting. Okay. Cash Flow Mojo software goes beyond just recording past transactions like a lot of accounting software does. Right. They want to provide a roadmap and guideposts. Okay. A roadmap and guideposts. What does that even look like?
So think of it this way. A lot of businesses will use their accounting software to see where their money went. But that doesn’t necessarily help you figure out where it needs to go. Right. And so Cashflow Mojo has these different modules dedicated to things like budgeting and income planning. Okay. But they also have a module for promotional planning with ROI calculations.
Wait, so you can see which marketing efforts are bringing in the most money. Exactly. That’s something I’m always trying to figure out. I know. It’s really useful. That’s awesome. Yeah. And that’s just one module. Okay. They also have things for managing incoming deposits. Oh, wow. Bills, credit card debt. Okay.
Plus, there’s tools for planning how you allocate your cash, keeping track of who owes you money, accounts receivable. Right. And so much more. It seems like a really comprehensive system. Yeah. So it’s like having a built in financial advisor. Right. But in software form. Exactly. That’s really cool. But I’m guessing they don’t just hand you this powerful software and wish you luck.
You’re right. They realize that just having the software isn’t enough. Okay. I’m all ears. What kind of support do they offer? Well, if you need extra help, they do offer one on one coaching and accounting review services. Okay. But every user gets access to video training, FAQs, a glossary to help you understand all the financial terms.
Okay. They even have a complimentary group coaching newsletter. Wow. So they really make sure people know how to use it. Yeah. It seems like they really focus on understanding. That makes a lot of sense. And it seems to be working for people. That’s great. One of the testimonials is from Clyde K, a veterinarian, and he said that the software and training really helped him to better manage his practice’s finances.
That’s great to hear real people seeing positive results. Mm hmm. Absolutely. And then there’s Allison P. from Philadelphia. Okay. And she was talking about how cash flow mojo helped her overcome her anxiety about finances. Oh, wow. And that she felt like she could finally control her cash flow. Knowing where your money’s going and having a plan can definitely relieve a lot of that stress.
It makes a huge difference. Yeah, it really does. And you mentioned they have a blog too, right? Yes, they do. With some interesting content on there. Yes. There are a few posts I think we should talk about. Okay. One of them compares accounting and cash flow management and talks about some of the things businesses might be expecting from their accounting software that it just can’t do.
Huh, that’s interesting. Yeah, and I think it’s going to be really eye opening. Yeah, because a lot of us just assume that accounting software is going to solve all of our cash flow problems. Right, but there’s a bigger picture. Yeah. And then there’s another post that really dives into why business owners specifically should be keeping a tight grip on their cash flow management.
Interesting. Why would they say that? Well, we’ll get into that a little bit later, but the idea is that when you as the business owner understand your cash flow, you just have a much deeper understanding of your business as a whole. Okay. And then there’s a post about depression era millionaires. Okay.
What’s the connection there? It talks about some lessons from financial successes during some really tough times. That’s so interesting. Yeah. I think we can learn a lot. Yeah. Okay. Okay. So before we dive into all that. Mm hmm. Let’s talk about how much this is gonna cost. Sure. How much are we looking at? So they have monthly and annual subscriptions.
Okay. But they also offer a 30 day trial for 9. 99. Okay, and what do you get with that? You get full access to the software. And all of the training materials, the videos, the FAQs, even the group coaching newsletter. So you really get to experience the whole thing. Exactly. And they see it as an investment, not just in software, but in your financial future and your peace of mind.
Yeah. I’m definitely rethinking how I approach my own business finances. Yeah. So let’s just take a step back and think about what we’ve learned so far about Cashflow Mojo. Okay, so Cashflow Mojo is definitely more than just simple accounting software. Right. It’s a full suite of tools and resources designed to really help businesses understand and manage their cash flow.
It’s not just about knowing how much money you have today. Yeah. It’s about projecting your income and expenses. Right. Planning for the future. Making sure you can weather any storms. Absolutely. And they seem to understand that running a business can be stressful. Especially the financial part. Right. And so they provide the training, coaching the support to help business owners gain confidence and control over their financial destiny.
It sounds like they’re trying to help people shift from that reactive, fear based approach to money Totally. to something more proactive and empowered. Absolutely. And it’s not just talk, either. Right. We saw those testimonials from real people. Real people. Real results. And we also have that power. Blog.
Yes. With all those interesting insights. And I’m especially curious about that post that kind of challenged what we think about accounting software. Me too. It seems like there’s a lot more to the story. Definitely. So why don’t we dive into that in part two? Sounds good. You know, it’s easy to think that accounting software is like the solution to all of our money problems.
Oh yeah, for sure. Like if we track everything perfectly, everything’s just going to work itself out. I’ve definitely been there. But that Cashflow Mojo blog post, it really challenged that idea. What did they say about those expectations? Well, they said that traditional accounting software, it’s really good for looking back.
Mm hmm. It tells you where your money went. Okay. Which is important for taxes and reports and things. Right. But it doesn’t necessarily help you plan for the future. So, it’s like driving a car, but only looking in the rearview mirror. Exactly. You can see where you’ve been, but not where you’re going. Okay.
And to manage cash flow properly, Yeah. You need to look ahead, anticipate problems, and have a plan. And that’s where Cashflow Mojo comes in, right? Exactly. It’s not just about recording the past. It’s about planning for the future. They were saying that relying only on accounting software for cash flow is like expecting a map to tell you the best route without considering traffic or road closures.
Oh, that’s a good analogy. You need more than just a basic map. Right, you need plan. So what about that blog post that said business owners should be really hands on with their cash flow? Yeah, they said that. When you understand your cash flow, you understand your whole business better. Oh, interesting. You start to see how everything’s connected.
Okay. Your prices, your expenses, marketing, even hiring. It’s like you have bird’s eye view of the whole thing. Exactly, and when you see everything, you can make better decisions. Okay. You can anticipate problems and avoid surprises. So it’s not just about making more money. No, it’s about building a strong business.
Right. It’s about being proactive, not reactive. Oh. You’re in control. I like that. And this kind of relates back to that post about the depression era millionaires. Okay, tell me more about that connection. Those millionaires, they didn’t just wait for things to get better. Yeah. They were resourceful. Okay.
They found ways to make money even when things were tough. So being proactive again. Right, exactly. Makes sense. They were scrappy, they adapted, they, they learned new skills. Wow. But they were also really disciplined. Okay. They lived simply, avoided debt, saved their money. That’s hard to do these days. It is.
There’s so much pressure to spend. So true. But it’s about making choices about what matters. Right. And they saw money as a tool. Okay. Not just something to collect. Yeah, to build something bigger. Right. Okay. And they thought, long term, they didn’t get discouraged by setbacks. They had a vision. Exactly.
Right. And these qualities are still important today. Even more so now. Right. Because things change so quickly. Mm hmm. Okay, so we’ve talked about understanding cash flow and being proactive. Mm hmm. But what about some practical tips? Sure. One of the most important things is to separate your business money from your personal money.
I’ve heard that before. It makes a big difference. But why? Mm hmm. Well, it helps you track your money accurately and make good decisions. And to do that, you need a separate bank account for your business. Makes sense. But what about paying myself? That’s where you pay yourself like an employee. Oh, so I’m an employee of my own business.
Exactly. Interesting. It helps you be consistent and stay on track. It’s about accountability. Right. Okay. And this is important even Emojo. Good to know. Another tip is to be proactive about your invoices. Ugh, that’s always the worst part. I know, but it’s important. Right. Make sure your invoices are clear and easy to understand.
Right. And have a system for following up. So set expectations and then follow through. Exactly, and don’t be afraid to talk to your clients. Which point? You deserve to get paid for your work. Okay, so we’ve covered a lot of ground. We have. But you mentioned those Depression era millionaires. Yeah. I want to hear more about what we can learn from them.
Me too. They have a lot to teach us about resilience and thinking long term. Sounds like there’s a lot more to explore. There is. Should we dive into that in part three? Let’s do it. Alright, so we’re back to these Depression era millionaires. Yeah. I’m still kind of stuck on this idea that they actually built wealth during that time.
I know, it seems crazy, right? Yeah. Yeah. Yeah. But what made them so different? Well, one thing that really stands out is their mindset. They didn’t just give up. They were always looking for opportunities, even when things were tough. So like that proactive mindset we were talking about before. Exactly. But even more so, they had to be super resourceful.
Okay. Like they didn’t have all the resources we have today. They had to be creative. I can see that. They had to figure out how to make things work. Right. They were always learning new skills. Wow. Adapting to new situations. Our whole Even changing their whole business if they had to. That’s incredible.
Yeah. They were flexible. But being resourceful isn’t the whole story, right? No. They were also super disciplined. Okay. They lived frugally avoided debt, saved their money. That’s so hard to do these days. It is. We’re constantly bombarded with messages to spend. It’s true. It takes a lot of discipline to resist that.
Right? It’s about making conscious choices about what’s really important. Okay, so they were resourceful, disciplined, hardworking. Mm-hmm. But how did they view money? Well, they seem to see it as a tool, not just an end in itself. Right, to build something bigger. Exactly. And they were in it for the long haul.
They didn’t get discouraged by setbacks. They had that long term vision. Right. And those are valuable qualities even today. Right, because things change so fast now. Exactly. We need to be adaptable, resourceful. Think long term. So it’s like those depression era millionaires, they can teach us a lot about navigating today’s world.
Absolutely. Their stories are full of valuable lessons. Okay. So we’ve talked about cashflow mojo, their software, the tips, and even those inspiring stories from the past. But before we wrap up, I want to talk about the emotional side of money. I think that’s so important. Yeah, because we’ve talked a lot about the practical stuff, but money can be really emotional.
It’s tied to our sense of security, our self worth. Yeah, and for entrepreneurs, our business is like a part of us. Right, it’s personal. So when things aren’t good financially, it can feel like a personal failure. Exactly. And that fear can be paralyzing. Yeah, it can stop us from making good decisions. It can hold us back.
So how do we deal with those negative emotions? Well first you have to acknowledge them. Okay. Don’t try to ignore them. Let yourself feel them. Exactly. But don’t let them control you. Okay. And then try to understand where they’re coming from. Okay. Like what’s causing them. Right. Is it past experiences limiting beliefs or just lack of knowledge?
Makes sense. Mm hmm. Figure out the root of the problem. And often just having a plan can help. Oh yeah. Having a plan makes you feel more in control. Exactly. Knowledge is power. So it’s about being proactive, not reactive. Right. Taking control of your finances. Mm hmm. Right. And that’s where tools like Cash Flow Mojo can be helpful.
Right. They can give you the knowledge and support you need. Exactly. This has been such a great deep dive. I agree. It’s been really insightful. I feel like I’ve learned so much about managing my finances. Me too. And remember, it’s a journey. Yeah. There will be ups and downs. But you can handle them. Right.
With the right tools and the right mindset. Thanks for joining us on this deep dive. It’s been a pleasure. And if you’re interested in learning more about Cashflow Mojo, check them out. Yeah, they have a lot to offer. Remember, financial freedom is possible. It starts with taking that first step. Seeking knowledge, taking control.
Absolutely. Until next time, keep learning, keep growing, keep chasing those dreams. Sounds good.
