(1) Use the know-how of outside experts to get a crystal clear idea of your best revenue and cost model for keeping the cash flowing smoothly.
(2) Build a balanced business strategy where growth and profitability are always in-sync with cash-flow – building on each other, rather than competing against each other.
(3) Manage your shareholder/stakeholder expectations. Get them to buy into a realistic strategy that’s for the medium/long-term, taking stress off the business.
(4) Even when your reserves are healthy, avoid the temptation to blow money on purchases you don’t need yet. You’ll thank yourself later.
(5) Always “think cash” and create a system that allows you to make accurate cash forecasts. This will give you a greater sense of confidence, security and a sense of your real financial health – so you make the best decisions around growth and sales.
Author: Staff Writer