Jan 18, 2021
In episode 328 of Financially Simple, Justin looks at the cashflow state of Businesses in the wake of COVID-19.
2020 was a year that tested many businesses and their ability to weather a financial storm - and many were not adequately prepared. In this episode, Justin explains why cash reserves are important as a means to cover yourself and your business in times of stress, and in the wake of COVID-19.
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00:45 - How Much Cash is Necessary in a COVID World
01:23 - Are Business Owners Poor Money Managers
03:46 - Two Main Reasons Why
07:36 - The Reality
08:54 - How Much Cash Do We Need
12:16 - What About the Alternatives
13:13 - Cash is Freedom
14:41 - Summary
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Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.