Recovery Plan P5 – Cash Flow Management
Recovery Plan P5 – Cash Flow Management
Last updated: 28 September 2020
Business Owner Update 22nd May
Recovery Plan P5The second tip I’ve got for you on cash flowmanagement to get the feeling of cash flow, being managed and not slipping through your fingers is, to tighten your cash flow procedures.Now your cash flow procedures could be anything from calling people before the money is due to collecting it on the due dates, to chasing for money.You want to tighten that up.Remembering… that more businesses fail due to lack of, of cashflow, then lack of profit.In the last recession, more businesses failed, even though the profits are rising.A lot of business with profits, rising, fail because of cashflow.If one business goes down, it takes a multiple number of businesses with them.And we know how many businesses failed recently…Have cut team members..You know…an absolutely sad, sad tale.And we need to be mindful of that when we’re doing our business.We don’t want to be doing the work and not getting paid for it.That would be criminal.Wouldn’t it?So look at your cash flow procedures and make sure you are Bulletproof.Okay. That’s my cashflow tip, number two,Watch out for number three.Want more in depth analysis.Join me next Thursday 1st October, 11 am Eastern, 4 pm UK.
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