Money is the lifeblood of any business, start-up or 100 years old. Considering implications for your cash-flow should be at the heart of every decision you make in your business.
Whatever makes you money now has to be prioritized over anything that has the promise of money in the future:
- If you can send an invoice today, don’t wait until tomorrow.
- If you can call the client today for the next order, do it.
- Make sure your accounts department is aware of these priorities.
There is a real ‘Need For Speed’, when it comes to getting your money in. It is easy to do all the exiting things first and get into the habit of letting the admin side, especially your cash-flow management, slip.
Once the cash is gone, so is the business.