4 ways to avoid losing your most precious asset.
Houston, TX (PRWEB) August 12, 2004 -- Did you start a small business hoping to create financial security for yourself and your family, only to find yourself running out of cash after only a short while? You are not alone.
80 percent of small businesses flatline within five years because they dont know what is going on with their most precious resource – their CASH. To avoid the pain and loss of failing in business, you must learn how to take control of your cash flow.
Getting your cash flow under control is not a luxury. It is a requirement for survival," says Philip Campbell, business cash flow coach and author of "Never Run Out of Cash: The 10 Cash Flow Rules You Cant Afford to Ignore."
An expert in the field of financial management, Campbell has been helping business owners learn how to manage their cash flow for more than twenty years. Here, he offers four simple yet powerful tips that will help you get a grip on your cash flow and set yourself up for financial success.
1. Know your cash balance right now. This is critical. Even the most intelligent and experienced entrepreneur will fail if they are making business decisions using inaccurate or incomplete cash balances.
2. Do todays work today. The key to keeping an accurate cash balance in your accounting system is to do todays work today. When you do this, you will have the numbers you need - when you need them.
3. Dont manage from the bank balance. Reconcile from the bank balance, but do not manage from it. The bank balance and the cash balance are different. Trying to manage from the bank balance is a prescription for failure.
4. Know what you expect the cash balance to be six months from now. This one simple strategy alone will transform the way you manage your business.
Find out more about how to get a grip on your cash flow today and set yourself up for success! Get the FREE special report The 7 Deadly Cash Flow Sins" at www.NeverRunOutOfCash.com
Contact:
Philip Campbell
(713) 962-1646
pcampbell@GrowAndSucceed.com
www.NeverRunOutOfCash.com
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