TRANSCRIPT

Here are some typical examples of common cash flow problems business owners would like to get solved. They want to know
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Money Management Solutions – Who We Are (Audio Recording) 

Listen as Sandra Simmons, President and Founder of Money Management Solutions, Inc. discusses how the company helps business owners take control of their financial future instead of being controlled by the balance in their bank account.

Transcript:

I’m Sandra Simmons with Money Management Solutions. We provide practice owners with a cash flow management software system and coaching system that allows the business owner to easily take charge of their financial future rather than being controlled by the balance they have in their bank account.

We help business owners correctly manage the cash and assets of their business to insure its survival, and train the business owner how to control the income and outgo of cash to move from just making a living to developing real wealth.

In essence we help them develop into a cash cow company that makes more profit than it needs to survive, and train them to manage the flow of cash so they can raise the cash cow rather than sacrificing it, and reach the financial goals they set when they made the decision to open their practice.

We have worked with practices that are deeply in debt, literally on the verge of bankruptcy, and have dug them out of the soup and set them on the road to solvency.

We have also worked with practices that make so much money that they end up needlessly wasting a lot of it so they have lots of material stuff, but they still don’t have long-term financial security.

To illustrate how that is true for my clients, here’s a testimonial from a client who said

The Money Management System and Sandra’s help allowed me to fix my financial problems and change the way I do business resulting in surviving this economic turmoil. I know for a fact that I would not have been able to save my business without this change.

Our Money Management Planning system gets results – and we guarantee those results when the system is used exactly as intended without alteration.

To learn more about how to turn your company into a cash cow, spend some time looking around at our website or give us a call.

I’ve noticed that, in letters, e-mails and conversation, more and more people are using the phrase “flourish and prosper” recently and I wondered just how many have actually analyzed what that actually means in terms of business money management, and just how it can be accomplished.

Socrates said, “The beginning of wisdom is a definition of terms“ so, by habit, I went to the oldest set of dictionaries that I own to get the purest definition of flourish, and here is what I found:

Flourish (verb intransitive) to do well and be prosperous; to be in a state of activity and production; to reach a height of development or influence; to increase in health, wealth, happiness, honor, comfort or whatever is desirable. [Webster Third International Dictionary © 1909]

So if we can flourish, then we have a much better chance of being truly prosperous. How can we carry out the actions of flourishing when it comes to business money management? Here are a few thoughts.

Be in a state of activity and production: Activity can’t just be busy work, a person or company must also be in production. To me that means to be producing something of value that actually contributes to the income generation of the company. For example, if a salesman spends all day calling people on the phone, but closes no sales, then he was certainly active, but wasn’t productive because he didn’t produce what he was hired to produce; closed sales. If a company spends its time, money and energy acquiring or making products, but never sells any, they are not really producing. To prosper, the production must generate income for the company. (more…)

Dental practice cash management is one of the most critical administrative functions to maintaining the financial health of the dental practice. Unfortunately, dental practice cash management is not adequately taught in any dental school.

The practice owner may get a short course on accounting, but accounting is NOT cash management planning. There’s a big difference between the two.

The only thing an accounting program can do is tell the dental practice owner what happened in the past – how much money came in and where it was spent. So if a practice owner is looking at how much it has cost them to make payroll and pay the bills, and that is the income target they are going after, then they are aiming for a break even target. As costs go up they tend to start losing money. Then they just pay bills as they get them. So, in essence, the cash flow controls the dentist, rather than the dentist controlling the cash flow. (more…)