Financial stress doesn't announce itself loudly---it sneaks in, builds up, and can bring even thriving businesses to their knees. Up to 82% of business failures are rooted in poor financial management. Could your business be making critical mistakes that jeopardize its future?On this episode, learn how to spot red flags, tackle cash flow challenges, and implement systems to build a resilient business. I’ll give some actionable strategies, and a step-by-step survival plan to help you avoid common pitfalls like pricing mistakes, poor cash flow oversight, and underprepared growth planning.Links:Fiona's Newsletter  ConnectFollow me, Fiona Nguyen, on LinkedIn. Learn more about Balannx.Timestamps0:00 - Introduction: The struggle of small business finances and today's toolkit  0:45 - Why this episode matters: 82% of failures come from poor financial management  2:18 - The 7 biggest financial mistakes businesses make  4:12 - Mistake #1: Poor cash flow management (timing mismatches and seasonal challenges)  6:34 - Mistake #2: Lack of financial systems and tools for tracking expenses  8:16 - Mistake #3: Pricing problems, from underpricing to ignoring overheads  11:09 - Mistake #4: Insufficient financial planning during growth phases  14:00 - Red flags your business is in financial trouble (declining margins, overdue receivables)  17:36 - Case study: Helping a client double profitability through strategic changes  20:48 - Building your financial survival toolkit: Tools, systems, and cash flow planning  24:15 - The importance of an emergency fund and disciplined reserves  28:03 - Growth planning: How to prepare for sustainable scaling  31:15 - Fiona's closing advice: Take control and stay proactive to thrive in business Hosted on Acast. See acast.com/privacy for more information.

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