That old chestnut ‘cash is king’ is oft-repeated (and repeated and repeated) for good reason.
After all, it’s the single best measure of your business’s health so managing its cyclical ebb and flow is crucial to your long term (and perhaps short term) success. Make no mistake, when businesses fail most do so because of poor cash flow.
Not convinced? Here are 4 more great reasons to make getting to grips with your company’s cash flow status your number one priority.
1. There’s no substitute for truly understanding what’s going on in your business
It’s certainly not good enough to consider your business’s financials as your accountant’s concern and not yours.