Five Ways Of Dealing With Small Business Cash Flow Problems

Every company faces cash flow problems. Here are a few tips to help you keep cash burn under control:

Don’t Have Tunnel Vision. Too many growth companies are focused solely on profit without considering cash flow, says Gregory Wank, accounting and advisory partner at Anchin, Block & Anchin. “I have a client who just raised a million dollars last fall. They did their operating budget for 2014 on a profit and loss (P&L) basis, not on a cash-flow basis. So I said to them, ‘based on a P&L, when are you going to run out of money’? And they said they had no idea.” Firms should give equal weight to cash management, remembering that they “have a finite pool of cash, and they should have a reasonable expectation of what they are going to spend and what their sales are going to be,” Wank says. […]

Read full article Five Tips for Controlling Cash Burn | CFO.

Organizations like MITRE, U.S. Army, Whirlpool, Standard Bank, and Iomega go to Jim Woods when they need a keynote speaker or workshop leader.

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About

Jim Woods is president of The Jim Woods Group. A management consulting firm. Go here to see his work www.jimwoodsgroup.com. He advises and speaks to organizations large and small on how to increase top line growth in times of uncertainty and complexity. Some of his speaking and consulting clients include: U.S. Army, MITRE Corporation, Pitney Bowes, Whirlpool, and 3M. See more at his website www.jimwoodsgroup.com.

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One comment on “Five Ways Of Dealing With Small Business Cash Flow Problems

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