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?? Sparq Talk Recap: Finance for the Non-Financial Executive Big thanks to our incredible speakers, Patrick E. Donohue and Melissa Johnston, and our fantastic host, Jennifer Roth. And of course, thank you to everyone who joined us today! Here are the simple, powerful takeaways: ?? Keep it simple — Finance doesn’t need to be complicated. Breaking down complex ideas into simple, actionable steps helps you stay focused and make smarter decisions. ?? Budgeting matters — A solid budget is the foundation of good financial management. It helps you plan for growth, avoid overspending, and stay aligned with your business goals. ?? Cash Flow Trifecta: Cash you have + What others owe you - What you owe others — Understanding this equation gives you a clear picture of your financial health and helps you manage daily operations without running into surprises. ?? Keep cash reserves — Having a financial cushion allows you to weather unexpected challenges, from economic downturns to sudden expenses. It’s your safety net for long-term stability. ?? Paying taxes? It’s actually a good thing—it means your business is profitable. Rather than avoiding taxes, plan for them as part of your growth strategy. ?? Be ready to buy when the market dips, not sell — Economic downturns can be opportunities. Being financially prepared allows you to invest strategically when others are pulling back. ? Ask the tough questions: Can your clients and partners handle risk? Are they well-capitalized? Knowing their financial stability helps you assess potential risks in your business relationships. ?? EBITDA isn’t the full picture — While EBITDA can indicate profitability, it doesn’t reflect your actual cash flow. Always dive deeper to understand your true financial position. Thanks again for being part of this conversation—we’re excited to keep sparking growth with you!