Always have 3 months cash flow available to cover outstanding expenses, wages & fixed costs.
This does not necessarily have to be physical cash, but it’s critically important that your business has access to 3 months’ cash flow via any variety of means, such as an overdraft, capital injections and so on.The old, but oh so true saying is “Cash is King,” and it’s never more true than during a […]
The importance of planning and, in particular, scenario planning.
Scenario planning is identifying a specific set of uncertainties, or different “realities” of what might happen in the future of your business. It sounds simple, and possibly not worth the trouble or specific effort, however, building this set of assumptions is probably the best thing you can ever do to help guide your business in […]
