10 Cash Flow Management Habits Every Business Owner Must Have

Business owners with good cash management habits are more likely to have a growing, successful business. They have more control over their business’s cash and more time to grow their business by focusing on their business’s unique value-added products and services.

Here are ten (10) habits you can adopt to help put your business on cash management auto-pilot.

The 10 Cash Management Habits

  1. Maintaining up-to-date bookkeeping
  2. Keeping accurate books and records
  3. Structuring a chart of accounts for meaningful reports
  4. Measuring the impact of increasing sales
  5. Using cash management tools
  6. Working with a cash management dashboard
  7. Addressing cash shortages immediately
  8. Spending regular, focused time on cash management 
  9. Maintaining a positive attitude
  10. Asking for help when needed

Habit 1: Maintaining Up to Date Bookkeeping

Up-to-date bookkeeping is critical for knowing where your cash is, where more cash is coming from, and where it needs to go. In other words: bank...

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