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Grow A Small Business Podcast


Oct 27, 2022

For this week’s episode, Michael interviews Tom McMeekin. He’s a financier, debt adviser, coach & strategist, and Tom is based in Hobart, Tasmania, Australia. Tom gets what it takes to be a banker, his experience and certifications will vouch for his reputation.

In the past 25 years, Tom specialized in assisting small-medium business owners, specifically in working capital and debt funding. Tom focuses on the mastery of cash flow, that before business owners will embark on a change, they have to make sure that the cash flow is sufficient.

The reason things don’t usually go as planned and that there hasn’t been a project that didn’t have complications. However, with a cash flow plan paired with clever leverage of debt you can “plan for the worst but expect the best.”

This Cast Covers:

  • Generating capital through debt funding.
  • Understanding cash requirements for each business goal.
  • Seeing business as a team sport.
  • Outsourcing a particular problem if you’re not equipped for it.
  • Keeping in mind capitalization whilst making growth objectives.
  • Generating income from the debt made.
  • Not forgetting the last thing, which is taxes.
  • Monitoring the balance sheet.
  • Mastery of cash flow.

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Additional Resources:

 


 

Quotes:

“Quite often people will come up with a good idea or have some ideas that they're trying to execute, but not understand the cash requirements for each one.” — Tom McMeekin.

“If you don't have the skill, it's not a particular problem, you need to outsource it.” — Tom McMeekin.

“Spending time building out those forecasts with the right people on your team, I think is critical.” — Tom McMeekin.

“You can plan for the worst but expect the best.” — Tom McMeekin.

“If you're leveraging to generate income, who cares how much debt you've got.” — Tom McMeekin.

 


 

Music from https://filmmusic.io “Cold Funk” by Kevin MacLeod https://incompetech.com. License: CC by http://creativecommons.org/licenses/by/4.0