My latest SOP video is about Cash Flow. What's that? Well, it's simply the name we give to money flowing into and out of your company.
How do you get ahead of the cash flow crunch? The first step is to look at your cash flow at least once a month. From there, you can move up to once per week and eventually once per day.
If you get cash flow "right" you get to take money out of your business and put it in your pocket. If you get it "wrong" then you take money out of your pocket and put it in your business. But, really, most people don't unused money lying around. So they end up taking money from a credit card or line of credit.
If you do that again and again, you'll eventually go deeper and deeper into debt.
A few key changes can make all the difference.
For more articles I've written on cash flow, enter the term "Cash flow" into the search on my blog.