Large, intimidating goals like paying off debt can be made manageable by reframing them into small, daily actions. Instead of focusing on a large lump sum, breaking it down into a tiny daily goal (e.g., $7/day) builds momentum and overcomes the psychological overwhelm that leads to inaction.

A one-time meeting with finance is "surface level" advice. To truly build financial acumen, PMs must integrate hard financial targets and business levers directly into their squad's goals. This creates an enduring, operational fluency that informs daily product decisions.

Most new entrepreneurs wait for revenue before formalizing their business with an LLC or hiring an accountant. The savvier approach is to establish this legal and financial foundation from day one, even before profitability. This professionalizes the venture immediately, forces a serious mindset, and builds a solid base for future growth.

Deciding which products or services to cut can be an emotional process for founders. Amy Porterfield advises removing the "drama" by relying on data. By tracking metrics for each offer, she could make objective decisions to retire those that didn't make business sense, simplifying her path to growth.

When a business is struggling with multiple revenue streams, the best strategy is to simplify. By cutting underperforming or noisy channels, you can amplify your focus on the one or two profitable areas. This distillation creates the clarity needed to stabilize and eventually rebuild the business.

Before planning the future, analyze the past. A Profit & Loss (P&L) statement reveals what truly drove revenue and where money was spent. For a deeper, non-obvious analysis, input your P&L into ChatGPT and ask it to act as a financial analyst, identifying trends, overspending, and hidden opportunities.

Escape the trap of chasing top-line revenue. Instead, make contribution margin (revenue minus COGS, ad spend, and discounts) your primary success metric. This provides a truer picture of business health and aligns the entire organization around profitable, sustainable growth rather than vanity metrics.

Audit your revenue streams to distinguish 'busy revenue' (high-effort, soul-sucking work) from 'aligned revenue' (energizing, sustainable systems). Focusing on growing aligned revenue, even if it means restructuring or eliminating profitable but draining streams, is key to a sustainable business model.

Instead of labeling a potential issue like negative cash flow as a definitive "red flag," which can be misleading, view it as a "flammable item." By itself, it may be harmless. The real danger only materializes when a "spark"—a catalyst like a new competitor or rising interest rates—is introduced.