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Provision Coaching Network
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Come together to share best practices and support each other to overcome the challenges that come with combining family with business.

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We recently conducted a small study asking entrepreneurs what the top challenges they were tackling in 2017 were. The most common response was CASH FLOW!

The Problem

I'm not 100% sure what the cash flow problem is; however, based on the work we've done with entrepreneurs, the problem is likely one or more of:

* Not enough working capital to finance operations. This is the money regularly coming in and going out of your business for recurring expenses. Generally this is the cash you have on hand + money you plan to collect from customers (Accounts Receivable) - bills you need to pay this month.
* Not understanding the cash flow cycles and what actions can be taken to improve them (get money in faster and pay it out slower)
* Not having strategies to use funds from customers, suppliers, friends/family or banks as a supplemental business funding mechanism.
* Lack of clarity on what purchases should be financed and what paid from operations
* Record keeping & Financial Routines - bookkeeping and reporting so you have the information you need to make financial decisions.
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As a partner in a family business, our family benefits from the work our ancestors did to develop the business and have it survive beyond the "shirtsleeves to shirtsleeves in three generations" mindset. Now succeeding to the 5th generation, our family business is poised to prepare the foundation for the next 100 years. This collection features our projects and initiatives on the business side and also our work and systems to keep good relationships in the family. Join us on our journey.

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