Cash Flow is KING in the business world, and I can tell you from years of working with businesses, it is a major factor in the success of your business. It might even be more important than profits.
Did you know that insufficient capital is the number two reason small businesses fail?
Here are 4 rules of Cash Flow
Growth sucks up cash- be careful of growing too fast
Have a cash flow projection- what will your balance be 6 months from now , don’t just wing it
Understand your receivables as every dollar in accounts receivable is a dollar less cash available
Cash is king
I have seen so many businesses fail that didn’t have a plan, ran low on cash flow and started cutting corners to save but ended up hurting their business instead. Don’t give up quality and service and eventually lose your business because you lost control of your cash flow. Take control now and let’s see your business thrive!
Candi Westbrook, Chamber President/CEO
