Uncover the financial behaviors that propel growing businesses to success with insights straight from industry experts. This piece sheds light on the pivotal practices that ensure sustainable growth and financial health. Here, the wisdom of seasoned professionals provides a roadmap to thriving in today’s competitive business environment.
- Shift to Proactive Cash Flow Management
- Adopt Value-Driven Investment Strategy
- Implement Clear Spending Policies
- Invest in Advanced Tools for Growth
- Switch to Structured Budgeting
- Forecast Cash Flow More Frequently
- Adopt Structured Cash Flow System
- Balance Premium Service with Financial Planning
- Transform Financial Planning Approach
- Shift to Long-Term Financial Planning
- Use Structured System for Financial Management
- Implement Rigorous Budgeting Practices
- Shift to Strategic Budgeting
- Invest in Equipment for Growth
Shift to Proactive Cash Flow Management
One financial habit I had to change as we grew was shifting from a reactive approach to a proactive cash flow management strategy. Early on, I focused primarily on revenue growth, assuming steady income would naturally cover expenses. However, as the business expanded, I quickly realized that predictable cash flow and structured budgeting were essential for long-term success.
The biggest challenge was inconsistent cash flow due to varying client payment cycles. Some clients paid upfront, while others had delayed invoices, making it difficult to plan for marketing, hiring, and software investments. I also had to adjust my mindset—rather than just tracking profits, I needed to forecast recurring expenses, reinvestment opportunities, and emergency funds to avoid financial strain.
By implementing monthly cash flow forecasting and automated invoicing, I gained better financial stability and could confidently plan for growth. One of the best improvements was integrating our CRM’s automated payment system, which automatically deducts payments from our clients. This not only eliminates late payments but also ensures consistent cash flow, allowing us to reinvest in our business without financial stress.
The biggest takeaway? A growing business needs structured financial discipline—don’t just track revenue, build a system that ensures predictable cash flow. Having automated payments in place has made scaling much smoother and given us peace of mind!
Sam Pileggi
Co-Founder, LaborTech Solutions
Adopt Value-Driven Investment Strategy
One of the biggest financial habits that had to evolve was transitioning from a mindset of strict cost-cutting to a value-driven investment strategy. In the early stages, financial discipline meant keeping expenses low and optimizing every dollar spent. However, as the business grew, it became evident that scaling required bold yet calculated investments, whether in technology, employee development, or market expansion.
The challenge was overcoming the instinct to play it safe and instead embracing data-backed financial forecasting to assess risks and opportunities. The real benefit of this shift? Increased operational efficiency, stronger competitive positioning, and the ability to seize high-growth opportunities with confidence, rather than hesitation.
Arvind Rongala
CEO, Invensis Learning
Implement Clear Spending Policies
One financial habit I had to change as the business grew was personally approving every expense, no matter how small. In the early stages, this gave me control and visibility over spending, which felt necessary when resources were tight. However, as the team expanded and operations scaled, this habit became a bottleneck—slowing down workflows, frustrating teams, and distracting me from higher-level strategy.
The challenge was letting go of the need for granular oversight and building a framework of trust and accountability instead. To make this work, we implemented clear spending policies, department-level budgets, and set up approval thresholds. We also rolled out expense management tools with built-in rules and automated reporting, which maintained visibility without micromanagement.
The result was increased operational efficiency and team empowerment. Managers could make timely decisions, respond to real needs faster, and own their budgets without waiting for sign-offs on routine items. This change also freed up my time to focus on financial forecasting, capital planning, and growth opportunities—areas where my involvement has greater long-term impact.
What I learned through this transition is that financial control doesn’t have to mean centralization. With the right systems in place, distributed decision-making can actually enhance financial discipline.
Rose Jimenez
Chief Finance Officer, Culture(dot)org
Invest in Advanced Tools for Growth
One financial habit I had to adapt as Spectup grew was moving from a “bootstrap everything” mindset to being more strategic about investments. Early on, I tried to conserve every euro, thinking that spending on tools or outside expertise was just unnecessary cost. But I realized during my time at Deloitte’s Innovation & Ventures team that being overly cautious can actually limit growth.
For example, there was a point when we were managing multiple startup clients simultaneously, and my reluctance to invest in advanced project management software made it tougher for the team to stay aligned. Eventually, I had to put that frugality aside, and once we implemented the right tools, efficiency skyrocketed, and our client satisfaction followed.
It wasn’t easy letting go of that scrappy, early-stage habit, but the benefits far outweighed the costs. The challenge for me was trusting those investments would truly pay off, but now I see them as part of building a scalable and professional operation. It’s a balance—being mindful of runaway expenses while knowing when to spend to enable growth. Saving pennies at the cost of progress is one expensive mindset.
Niclas Schlopsna
Managing Consultant and CEO, spectup
Switch to Structured Budgeting
As I grew my practice, I had to switch from spending all at once to budgeting. In the beginning, I would spend every dollar from a big case all at once—hiring temporary help, buying new tech, or treating myself—because I thought more money would come in soon. But when business slowed down, I would struggle to pay for basic things like office rent or insurance. This was super stressful, and I couldn’t keep it up.
Things changed after a client paid late on a big case and I had expenses I couldn’t cover. I started using a 50/30/20 rule: 50% of income for fixed costs (rent, utilities, insurance), 30% for variable costs (marketing, contractors), and 20% saved in a rainy day fund. At first, it felt limiting—like saying no to buying better case software. But over time, I saw the benefits. That savings fund helped me get through court closures during COVID-19 without having to lay off staff or take on debt. It also allowed me to take smart risks—like hiring a part-time paralegal to do research, which gave me time to work on more valuable cases.
The hardest part? Staying disciplined. It’s tempting to use the savings when a great marketing idea comes up. But following the plan taught me to value long-term stability over short-term wins. Now, even when business is slow, I worry less, knowing I can pay my bills—and I can still do free work for causes I believe in.
Lyle Solomon
Principal Attorney, Oak View Law Group
Forecast Cash Flow More Frequently
As my business has grown, one financial habit I’ve had to adapt is how I manage cash flow. Early on, I could get by with a simple spreadsheet, tracking income and expenses month by month. But as my client base expanded and projects became more complex, I quickly realized that waiting until the end of the month to assess cash flow just wasn’t cutting it anymore.
Now, I keep a much closer eye on cash flow, forecasting more frequently and adjusting as I go. It’s no longer just about tracking what’s in the bank; I need to anticipate upcoming expenses and revenue, and adjust my budget in real time. For instance, when clients pay late or unexpected costs pop up, I need to react quickly to avoid cash crunches, which used to throw everything off balance.
At first, this shift was challenging. It meant staying on top of day-to-day expenses and keeping track of more moving parts, which sometimes felt overwhelming. But over time, it’s made a huge difference. By proactively managing cash flow, I’ve been able to avoid tight spots, plan for growth more effectively, and even take on bigger projects without worrying about financing.
Having a clear, up-to-date picture of your cash flow can make or break your business. It’s about staying ahead of problems rather than reacting to them, which in the end helps keep things running smoothly and ensures you’re ready for the next stage of growth.
Justin Abrams
Founder & CEO, Aryo Consulting Group
Adopt Structured Cash Flow System
One financial habit I had to change as my business grew was shifting from reactive spending to proactive cash flow forecasting. In the early days, I operated under a “there’s money in the account, so we’re fine” mindset. That worked when expenses were minimal, but as the business scaled, so did the financial complexity—inventory, marketing, travel, and unexpected costs all started hitting at once.
The turning point came when a large expense landed at the wrong time, forcing me to scramble for funds. That’s when I realized that guessing wasn’t a strategy. I adopted a structured cash flow system, forecasting expenses several months ahead. Now, I track fixed vs. variable costs, monitor revenue trends, and allocate funds into a reserve account to handle unexpected hurdles.
The biggest benefit? Less financial stress and better decision-making. With predictable forecasting, I can spot cash flow gaps early, adjust spending proactively, and avoid last-minute funding scrambles. This shift from a reactive to a strategic financial approach has made growth more sustainable and planning much clearer.
Murray Seaton
Founder and CEO of Hypervibe / Health & Fitness Entrepreneur, Hypervibe (Vibration Plates)
Balance Premium Service with Financial Planning
As my business grew, I had to shift from focusing solely on patient care to balancing premium service with smart financial planning. Investing in advanced technology like digital scanners and pain-free laser treatments was a significant expense, but by optimizing resources, I ensured we could offer cutting-edge care without compromising affordability. This change has enhanced patient satisfaction and reinforced our reputation for excellence. Patients appreciate the seamless, comfortable experience, leading to more referrals and long-term loyalty. By refining financial habits, I’ve made it possible to maintain a luxurious, patient-focused practice while ensuring sustainable growth.
Neda Hovaizi
Business Owner & Dentist, Lumiere Dental Spa
Transform Financial Planning Approach
As an entrepreneur, the biggest financial habit I had to transform was my entire approach to financial planning. Let me tell you, it’s been quite the journey—from keeping everything in my head (you know, that “I got this” mentality we all start with) to building complex financial models that are challenging on every level.
While at a startup stage, it’s quite easy to basically be Scrooge McDuck—counting dollars and thinking I had it all figured out. But as the company grows, that “keep it all in my head” approach started showing some serious cracks. Firstly (and most importantly), you start hemorrhaging money—tens of thousands of dollars just gone with no real understanding of where it went. Now that’s quite a wake-up call.
I first tried to tackle it myself, diving into Excel like it was my new best friend. I spent countless nights learning formulas, creating spreadsheets, only to realize our company was growing faster than I could update those monthly comparisons. It was like trying to catch a speedboat with a rowboat—frustrating and ultimately futile.
The real game-changer came when I finally admitted I needed help from people who could translate our business reality into numbers better than I could. It wasn’t easy for me—I’m naturally more of a “figure it out myself” introvert. But pushing outside that comfort zone, starting conversations with financial experts, investing in R&D that didn’t show immediate returns—it completely transformed how we operate.
Now, we have this incredible digital ecosystem where everything’s at our fingertips. We can actually predict financial trends, automate processes, and make data-driven decisions. It’s like floating above the company and seeing its financial soul—every movement, every pattern, every opportunity.
The best part? This evolution forced me to become part of a larger financial community, to learn from others, and to think bigger. While the transition was honestly pretty painful (and expensive) at times, I can’t imagine running the business any other way now. It’s like getting glasses for the first time—you don’t realize how blurry everything was until you can finally see clearly.
Vasiliy Voropaev
CEO, Smartbrain(dot)io
Shift to Long-Term Financial Planning
One key financial habit I had to adapt as our business grew was shifting from short-term expense management to long-term financial planning and investment.
Early on, the focus was primarily on managing operational costs efficiently—ensuring that every expense had an immediate return. However, as we expanded, I realized that scaling a business requires strategic financial planning, not just cost control. Investments in advanced technology, skilled personnel, and R&D often require significant upfront costs without immediate returns. Balancing cash flow stability while funding long-term innovation was a challenge.
I shifted my approach from focusing purely on monthly expenses to building a structured financial strategy, including:
- Allocating budgets for long-term R&D while maintaining cash reserves.
- Implementing financial forecasting tools to predict growth and funding needs.
- Exploring strategic partnerships and funding options instead of solely relying on operational revenue.
This shift enabled us to invest in cutting-edge genetic testing solutions, such as Next-Generation Sequencing (NGS) and liquid biopsy technologies, without compromising financial stability. It also allowed us to scale efficiently, attract investors, and stay ahead in the rapidly evolving healthcare industry.
NEELI DILIP KUMAR
Managing Director, NEELI GENETIC SERVICES PVT LTD
Use Structured System for Financial Management
One financial habit I had to change as we grew was shifting from tracking everything manually to using a structured system for managing revenue, expenses, and customer interactions. Early on, I was handling things through spreadsheets and basic accounting tools, which worked when we were small. But as we expanded, this approach became time-consuming and prone to errors—especially when it came to following up on payments, managing customer data, and forecasting income.
The turning point was implementing a CRM that integrates with our billing and communication systems. This allowed us to centralize financial data, track trends, automate reminders, and get a clearer picture of our cash flow in real-time. It also helped us manage customer relationships more effectively, especially when dealing with long-term renters or coordinating special promotions.
The challenge was letting go of old habits and trusting a new system. It took time to learn the platform and tailor it to our needs, but the benefits far outweighed the initial learning curve. Having that level of visibility into our financial health and customer activity has helped us make better decisions, reduce late payments, and identify new growth opportunities.
Adapting to a more automated and integrated approach allowed us to stay organized as the business scaled, which is especially important in a place like Switzerland where customers expect reliability, structure, and clear communication.
Stefano Hubli
Owner, HubliBox
Implement Rigorous Budgeting Practices
As my business has grown, one financial habit I’ve had to adapt is how we manage cash flow to ensure both operational efficiency and long-term sustainability. Early on, our focus was primarily on project-based revenue, but as our company scaled, we recognized the need for more structured financial planning, particularly in budgeting for unforeseen expenses and customer financing solutions.
One challenge was balancing immediate costs, such as materials and labor, with the longer sales cycles that come with working closely with insurance carriers and financing programs like GAF Smart Money. To address this, we implemented more rigorous budgeting practices, closely tracking expenses and maintaining a financial cushion for unexpected challenges, such as storm-related surges in demand.
The benefit of this adaptation has been significant—better cash flow management has allowed us to take on larger projects with confidence, offer flexible financing options to customers, and ensure that we’re always prepared for market fluctuations. By making financial planning a priority, we’ve strengthened both our business stability and our ability to provide top-tier service to Michigan.
Trenton Wisecup
Founder and Owner, Arrow Roofing
Shift to Strategic Budgeting
I really think shifting from reactive spending to strategic budgeting was one of the most important financial habits I had to change as the business grew. In the early stages, spending decisions were often made on the fly—tools, freelancers, marketing—whatever seemed urgent got approved quickly. But as the business scaled, that approach became risky and unsustainable.
The biggest challenge was learning to plan ahead with rolling forecasts and department-specific budgets, especially when growth was unpredictable. It took discipline to hold back from impulsive investments and instead align every spend with long-term goals. The benefit? We gained better cash flow visibility, improved ROI across departments, and made more confident hiring and scaling decisions.
This change helped us move from short-term survival thinking to long-term financial stability—giving the business room to grow without overstretching resources.
Pallavi Pareek
Founder & CEO, Ungender
Invest in Equipment for Growth
Margins can be tight in pest control, and it’s tempting to avoid major purchases. When I was a one-man team, this was acceptable because I had few overhead costs to worry about. I learned to penny-pinch to generate the income I wanted. I repaired old equipment, stretched out chemical supplies, and delayed buying new gear.
When I established my own business, this became a problem as demand increased.
The turning point came with our bed bug heat treatments. Initially, I rented equipment instead of investing in my own. It worked for a time because there were fewer upfront costs and no maintenance expenses. However, rental fees accumulated over time. Scheduling also became challenging. There were jobs I had to turn down because equipment was unavailable.
The losses were mounting. I was so focused on saving money that it cost me valuable opportunities. After examining the potential income we could be generating if we had our own equipment, I decided to take a calculated but necessary risk to purchase a high-heat treatment system.
It’s a bitter pill to swallow, if I’m going to be honest, but I’m glad I did it because it paid for itself quickly. We were able to take on more jobs, respond faster to clients, and deliver better bed bug remediation services.
This not only changed how much I spent on equipment but also altered how I hired people, paid for training, and made other investments that could potentially grow the business.
Allan Bossel
Operations Expert, Bed Bug Exterminator
