| Money is the blood line of any business. It is a fact | | | | to do it yourself or to make sure that you get some |
| that over 90% of businesses go out of business | | | | one else to do it. Either way, make sure that what |
| within the first year and the reason is inadequate | | | | needs to be done, is being done by some one. |
| cash flow. Go figure! So what are the pitfalls to avoid | | | | 6. Bank is not equal to Cash |
| and measures to take? Have a look below:- | | | | Your heading for big trouble if your managing from |
| 1. Never run out of cash | | | | your bank balance. Cash balance is not the same as |
| Failure in business is simply running out of cash. Make | | | | bank balance which may have uncleared checks, |
| sure this doesn't happen to you by keeping extra | | | | pending transactions and a host of other things. |
| reserves locked away for down periods. | | | | 7. Look 6 months in to the Future |
| 2. Cash is King | | | | You should know what your cash balance is likely to |
| Remember what you are in business for (to make | | | | be 6 months in to the future. That given you are well |
| money) and respect that fact by giving it the care | | | | on your way to understanding the health of your |
| and attention it deserves. For if you don't it will return | | | | business. Therefore, if ever down, you will have |
| the favor. | | | | plenty of notice to correct it before it is too late. |
| 3. Know your Cash Position | | | | 8. Projections are a Must |
| Too many people make wrong decisions because of | | | | Cash flow problems don't just happen. They are |
| the fact that they don't know the facts of their | | | | reached slowly and the signs are always there if |
| business. Don't let this happen to you. You must | | | | some one is looking carefully. So make sure you are |
| know exactly what you have in the bank at this | | | | looking at the signs so you are prepared well in time. |
| very moment to ensure you make well informed | | | | 9. Eliminate Concern |
| decisions. | | | | If you are always worrying about your cash flow |
| 4. Complete Today's Work TODAY | | | | then you are not concentrating on your business as |
| The only way to keep an up to date information | | | | much as you should. Make sure to eliminate all cash |
| system regarding your cash flow is to ensure that | | | | flow worries and focus your time on growing your |
| today's work gets done today. Otherwise you will be | | | | business. |
| making decisions on historical data, which is also | | | | Adam Heist is writer for the loans website, a new |
| incomplete. | | | | trend called firstnational mortgages ltd website has |
| 5. Do it or Delegate it | | | | been stirring up quite a commotion. Visit ustoday to |
| The only way to make sure work gets done is either | | | | find out why. |