Only Spend Money on What Is Essential for Your Business Managing your cash is often a push-and-pull between what are financial necessities and what are simply wants.
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In this video from Entrepreneur Network partner Business Rockstars, Carol Koh Evans details her journey to becoming the current CFO and COO of Tradesy, a resale marketplace for luxury design fashion. Evans, who previously worked as banker and, later, within corporate strategy taking companies public, talks about her transition from the corporate world to the fashion startup.
One of Evans's main jobs as CFO is managing cash flow. When determining the payoff between two areas that are both deserving of cash, she often thinks in terms of non-essential versus essential -- or if something is a vitamin or a painkiller. This metaphor is great way for Evans to whittle down the challenges of her job as a decision-maker in a growing company.
Click play to hear more of Evans's story and advice.
Related: Why This Entrepreneur Knew He Was Meant to Start His Own Business
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