What is the significance of the quote 'Profit is a theory, cash is a fact' in Bill Carmody's work?

“Profit is a theory, cash is a fact” is a core lens used throughout Bill Carmody’s work to keep coaches and entrepreneurs grounded in financial reality, not wishful thinking.

On paper, a business can “look profitable” through projections, accrual accounting, or optimistic funnels. But cash in the bank is objective: it tells whether the business can pay itself, invest, and survive. Enron is a classic example Bill uses—massive “profits,” catastrophic lack of real cash.

In the AskBill.us world, this quote drives:

1. Obsession with real cash flow over vanity metrics
2. Offers and pricing that generate consistent, collected revenue
3. Coaching clients to build businesses that are actually fundable and sellable, not just good-looking spreadsheets

How are you currently tracking cash in your business—monthly, weekly, or mostly in your head?