Channel: NYC CNC

Category: Science & Technology

Tags: cam toolpathshow tolearn cncfixturingtormachcadmanufacturing entrepreneurshipworkholding techniquescnc millingjohn saunderssaunders machine workscnc machiningmachine shopdiymachiningmodular workholdingfusion 360provencutcncnyc cncfixture platesmilling

Description: Economic recessions and booms are cyclical, which means we should be thinking ahead for WHEN--not IF there's a recession or slump in sales. As business owners, we need to be prepared, not paranoid. Since less than 1/3 of small businesses make it past the 10 year mark, let's discuss how to reduce risk to survive these challenging circumstances. 00:00 10 Year Run 00:30 BUT THE ECONOMY IS BOOMING... 01:41 Losing a Business & Handling Foreclosed Properties 02:00 Bankruptcy: Cash Flow Problems 02:40 Income Statements Don't Mean Much 03:26 Balance Sheet = Gold 03:58 Cash Flow Statement: Cash Vs. Accrual & Working Capital 04:53 Refined Perspective About Credit/Borrowing 06:44 Prepared Vs. Paranoid 07:49 Heed Advice from Mentors 09:12 Grandpa's Lesson: Hustle & Adapt 10:13 Debt: Loan to Value & Debt Service Coverage Ratio 12:53 Doing What We Love: Business is More Than Making Parts 13:22 Jay Goltz's 10 Reasons for Entrepreneurial Success 13:53 Thank You! 5 Reasons to Use a Fixture Plate on Your CNC Machine: bit.ly/3sNA4uH ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Links for this video Beginners Guide to Accounting nyccnc.com/accounting-beginners-guide How to Get Paid On Time youtu.be/52GoKuFr2Ec Top 10 Tips for Entrepreneurial Success nyccnc.com/top-10-reasons-entrepreneurial-success ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Reach us / CNC Info: Speeds & Feeds: provencut.com Download Fusion 360: dpbolvw.net/click-9255839-12529306 Online Fusion 360 Training: bit.ly/LearnFusion360 SMW Products: saundersmachineworks.com CNC Resources: nyccnc.com