The Simple Habit That Will Improve Your Business’s Cash Flow

Author

Luke Templin
March 19, 2025

The Mind 🧠 of a CFO

Read time: 3:00 minutes

Welcome to The Mind of a CFO newsletter. This newsletter is designed to provide entrepreneurs with financial clarity to grow their businesses profitably.

In less than three minutes, you will learn one actionable insight into each issue, which dives deeper into my Inc. column.

Disclaimer: Some links below support my writing this newsletter, and some give you a deal.

In my recent Inc. article, I shared five simple steps to help you predict your business's cash flow. In the following five issues of this newsletter, I'll break each step down so you can easily apply it to your business.

We're starting with Step 1: Track Weekly Cash Inflows & Outflows.

Most business owners check their bank balances daily. It's a habit. But relying on that number alone to make decisions is risky. Why? Because it doesn't tell the whole story.

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Your bank balance doesn't show:

  • Unpaid bills coming due

  • Outstanding checks that haven't cleared

  • Past-due invoices from customers

  • Where cash collections are vs. a target

Without tracking these, you could think you have more cash than you do—and overspend—or assume you have less and miss growth opportunities.

A Better Approach: Track Weekly Cash Movements

Instead of relying on your bank account, start tracking cash movement using a simple spreadsheet. This gives you a clear picture of what's happening and allows you to make more intelligent purchasing and hiring decisions. Here is an example template that I have used in the past with fractional CFO clients.

Want to automate the process? In Buy Back Your Time, Dan Martell recommends setting up a financial summary email to keep you informed without digging through reports. FinDaily.io, which I use with my virtual CFO clients at a2, takes this idea further by automatically delivering a daily or weekly snapshot of your key financial data. Including your bookkeeper in these emails also helps ensure accuracy and accountability. Here is an example.

Action Step:

Start a weekly cash flow tracking habit. Whether a simple spreadsheet or an automated report, having a clear view of your cash movements will help you make better financial decisions.

FinDaily provides a daily financial snapshot to make this easier, automating the process so you're always informed. As a reader, you can get 30% off for the first three months with code “MINDofCFO”.

Stay tuned—next time, we'll cover how to start forecasting to predict your business's cash flow!

Thanks for reading, Luke Templin!

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