Steve Urban of Riderflex and Mike McHale discuss the struggles and strategies of managing cash flow as an entrepreneur. Steve emphasizes that worrying about cash is a constant for any business owner despite what some might claim. They talk about how their financial team gets frustrated when they just want to see the cash flow first before diving into income statements or balance sheets. They also discuss moves on how businesses are often evaluated by their EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) but that this can be manipulated based on timing and other factors. Especially in project-based companies, it’s tricky because you can’t play those financial games as easily. Mike touches on balancing growth with maintaining enough liquidity to meet ongoing obligations while also considering future plans like raising capital or planning an exit strategy. Ultimately, they mention a $50 million five-year plan they're working towards doubling in the next five years-a clear picture of ambition and strategic planning at play!
Production Systems Automation Inc. (PSA) is a privately owned engineering and custom manufacturing firm founded in 1985, with three locations in Pennsylvania. As a turnkey systems integrator, PSA offers flexible robotic solutions, custom automated machinery, drives and controls, and custom PLC projects. They also provide standard products for specific industries and have expanded their services to include engineering, fabrication, and field service for robotics. Representing top global robotic OEMs like ABB and Fanuc, PSA is staffed with skilled engineers, designers, welders, machinists, and technicians. Their culture emphasizes acceptance, advanced technologies, customer focus, and community stewardship.
Meet Production Systems Automation, Inc: psasystems.com/
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