Control Your Cash, Control Your Business

According to Michael Gerber, author of The E-Myth, 40% of businesses fail in their first year and 80% fail within their first five years. The biggest reason by far is that they run out of CASH!

You can avoid this by controlling your cash flow. You've all heard the expression "Cash is King." It's the blood that keeps your business alive and without it your business can't survive. Control it, manage it and handle it with care. Below are some suggestions to help you control your cash:

• Prepare accurate cash flow projections on a weekly, monthly, and annual basis
• Track your cash flow daily and modify decisions based on results.
• Do not manage your cash flow from you bank balance.
• Don't try to run your business by using the bank's numbers
• Keep current and accurate cash balances

It is imperative that you have cash flow projections. You can't run your business properly without them. If you can't or won't do it, assign the task to someone in your company. Day to day as well as long range business decisions are easier to make when you know that funds will be available.

Controlling cash flow is one of the most important things you can do to manage your business. I can provide you with advice and tips on other ways to make your business more successful. It's up to you to control your business and not let the business control you.