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“Poor cash flow management is the reason 82% of businesses fail.”
- Jessie Hagen of U.S. Bank
Cash is the lifeblood of your business. If you have a good business model and you’re great at managing cash, your company will be wildly successful. If you’re not skilled at managing cash then even if you have a good business model, you'll likely wind up being a statistic.
Just making a profit isn’t enough to guarantee long-term success – a cash flow strategy must be considered for improving cash flow in your business to ensure sustainable growth.
Making money, but there’s no cash in the bank?
It doesn’t matter whether you have a $1MM or a $50MM business, many CEOs struggle with the concept of profit vs. cash. Understanding that difference is critical to understanding how cash flow works—and how to become the master of your company’s cash flow.
For many CEOs, one big obstacle to business success is how they think about money. When it comes to cash, ask yourself, do you come from a position of scarcity and fear or one of abundance and joy?
Why is this so important? Well, if you operate from a position of cash flow fear, you’ll avoid dealing with financial issues until you absolutely have to. But the most successful CEOs deal with money issues up front, early, and often.
Improving cash flow management is the key to unlocking your business’s potential – it’s what leads to making the right decisions, and gaining the right clients.
Optimizing methods for improving cash flow
Cash flow works differently for every company, but one truth remains universal: you can’t manage what you can’t measure. Luckily, there is a “quick fix” to improving cash flow – implement best practices, processes and technology contained in this ebook and you'll improve cash flow right away.
“The CEO’s Guide to Improving Cash Flow”, provides 28 ways to gain efficiency and peace of mind using best practices of cash flow management, with the use of technology for automation, analysis of actionable metrics, improved billing processes, pricing, and collections methods.
You’ll also learn:
- How to optimize pricing and calculate profit from job costing
- Why you need to establish a written credit policy
- Reasons behind why you can’t sell your way out of poor cash flow management
Implementing measures to improve cash flow is integral to your business’s long-term success and health. To learn more, download The CEO’s Guide to Improving Cash Flow!