Cash flow management isn’t about money. It’s about getting your life back.
I’ve worked with business owners who were sick with concern, fear, and doubt about how they will make payroll, meet bank covenants, and literally keep the lights on. They've told me with tears in their eyes that they don't know if they can survive past another payroll. Their spouses express concern about the health and well-being of their partner.
By focusing on cash flow - when and where cash was coming and going from the business - they were able to turn around the business completely, or stay afloat long enough to sell the business.
And yes, some businesses fail, but it’s because of a fundamentally unsound and unsustainable business model.
If you or someone you know have good sales and margins, but are struggling to have the cash to pay the bills, get help.
Open up to someone who can integrate and monitor a cash flow model with your company’s financials and help you make decisions on how to get out of a hole.
Put a note in the comments below if you’ve ever needed help, so someone facing a cash crisis right now realizes they are not alone.
#wtcfg #cashflow #bestideas