The,Cash,Flow,Rules,You,Can,am business, insurance The 10 Cash Flow Rules You Can't Afford to Ignore
Date:2020-12-24 The,Cash,Flow,Rules,You,Can,am business
As we all know to live in this world we have to perform some activity by which we can earn money. There are many activities by which we can earn money and meet the standards to live in this society. And from one of them is franchise. Franc
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The statistics on small business failure are alarming.Michael Gerber, author of "The E-Myth: Why Most SmallBusinesses Don't Work and What To Do About It", says that40% of businesses fail in their first year. 80% fail withintheir first five years.THEY RAN OUT OF CASH.Don't let this happen to you.Here are 10 Rules to help you take control of your cash flowso you can create the business you have always dreamed of. 1. Never Run Out of Cash.Running out of cash is the definition of failure inbusiness. Make the commitment to do what it takes so it doesnot happen to you.2. Cash Is KingIt's important to recognize that cash is what keeps yourbusiness alive. Manage it with the care and attention itdeserves. It's very unforgiving if you don't.Remember, Cash Is King, because No Cash = No Business.3. Know the Cash Balance Right Now.What is your cash balance right now? It's absolutelycritical that you know exactly what your cash balance is. Even the most intelligent and experienced person will failif they are making business decisions using inaccurate orincomplete cash balances. That's the reason why businessfailures are not limited to amateurs or people new to thebusiness world.4. Do Today's Work Today.The key to keeping an accurate cash balance in youraccounting system is to do today's work today. When you dothis, you will have the numbers you need - when you needthem. 5. Either You Do the Work or Have Someone Else Do It.Here is a simple rule to follow to make sure you have anaccurate cash balance on your books. You do the work or havesomeone else do it.Those are the only two choices you have. The work must bedone. It's like mowing the lawn. You can't just ignore it.Someone has to do it. That means either you do it or youhave someone else do it.6. Don't Manage From the Bank Balance.The bank balance and the cash balance are two differentanimals. Rarely will the two ever be the same. Don't makethe mistake of confusing them.It's futile (and frustrating) to attempt to manage your cashflow using the bank balance. It's a prescription forfailure. You reconcile your bank balance. You don't managefrom it.7. Know What You Expect the Cash Balance to be Six Months From Now.What do you expect your cash balance to be six months fromnow? This one question will transform the way you manageyour business.This question really gets to the heart of whether you aremanaging your business or whether your business is managingyou. 8. Cash Flow Problems Don't "Just Happen".You would be shocked and amazed at the number of businessesthat fail because the owner did not see a cash flow problemin time to do something about it.The key is to always be able to answer the question - whatdo I expect my cash balance to be six months from now?9. You Absolutely, Positively Must Have Cash Flow Projections.Cash flow projections are the key to making wise andprofitable business decisions. They give you the answer tothe all-important question from Rule # 7.It's impossible to run your business properly without them.10. Eliminate Your Cash Flow Worries So You Are Free to Do What You Do Best - Take Care of Customers and Make More Money.Use these 10 Rules to free yourself from cash flow worries.That way you can focus all your time and talents where youcan make the most difference in your business.No more wasted time worrying about what's going on with yourcash flow. Instead, you can focus your unique talents andabilities each day on ways to grow your business andmake more and more money each year.And that's a recipe for success and wealth creation. Article Tags: Cash Flow, Cash Balance, Bank Balance
The,Cash,Flow,Rules,You,Can,am
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