Cash is more important than your mother! That seems pretty harsh right, unless you don’t like your mom. That is what my father in law used to say when business was tough and cash was tight.
In business it is true, for profit, non-profit, not-for-profit – doesn’t matter you can’t run a business without it. It’s the life blood, the oxygen of your operation. No business can survive without it.
Cash is king and cash is green so when times are tough you have to do whatever you can to generate it and conserve it. Remember, sales solve all problems. Collect cash, not debt – don’t over leverage.
Trust me; I have learned this the hard way. To be honest, more times than I would like to admit. What can I say; sometimes I’m a slow learner. When things start getting good it’s hard not to ride that wave longer than feasible. The reality is a few crashes are good for you. That is my opinion. You have to fail and lose to really learn. In business, some people call this cycling; you cycle through the entire process of making it to the top and crashing all the way to bottom, maybe even losing it all.
Just remember, you made it to the top before, you can do it again. Focus on how you can generate cash. Cutting costs and reducing expenses is great, but spend more time on generating revenue. Your business needs that oxygen to survive…
Cash is king, treat it as such.
Talk Soon,
Kevin W @LEAP272
Owner-Operator
You have to leap if you want to live
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