Running low on cash? Look to these techniques to stay afloat.
Categories Cash Flow Management
Cash isn't king. Positive cash flow is.
Sounds complicated, but cash flow is actually a very simple concept: how much money is going INTO your business (usually from sales and accounts receivable) vs. how much is going OUT (e.g. to office expenses, utilities bills, payroll, taxes, insurance, contractors and vendors -- and the list goes on). Managing cash flow is an ongoing process you’ll have to master -- so that, when a bill comes due or it’s tax time again, you have enough cash in the bank to cover your bases, pay your people and keep the doors open (figuratively or otherwise).
Do you know where your business stands today? How about six months from now?
There isn’t one right way to save money.
You think outside of the box when planning your business strategy. Why should cash flow management be any different?
Don’t settle for a sub-par deal because you’re desperate.