HOW TO MANAGE HOME-BUSINESS CASH FLOW EFFECTIVELY
HOW TO MANAGE HOME-BUSINESS CASH FLOW EFFECTIVELY.
There”s something you can never afford to forget when you are running a
business out of your home — cash is king!
Whether it is a multi-billion dollar empire, such as Bill Gates” Microsoft,
or the tiny mom-and-pop convenience store on the street corner, cash is the
life blood of the business.
In today”s uncertain economy with ever rising interest rates, many small
businesses with limited financial training are having problems staying
alive, let alone prospering. In fact, 63% of new businesses don”t survive
six years — and most work-at-home people fail within 6 months!
The primary reason is bad cash management. To many self-employed people
neglect their cash flow until it is too late to recover. Suddenly, presto!
it “s back to your office job! We don”t want that to happen.
So the big question is: will you be able to manage your cash flow
effectively? If you are not sure, then you are on shaky ground.
Les Masonson, author of Cash, Cash, Cash: The Three Principles of Business
Survival and Success, says cash flow is all about, ‘getting the money from
customers sooner, paying bills at the last possible moment, concentrating
money to a single bank account, managing accounts payable, accounts
receivable and inventory more effectively, and squeezing every penny out of
your daily business.’
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