Plan your weekly cash flow
Cash is the food that keeps your business alive. Your new company will eat this food at a surprising pace and your job is to keep finding more food to keep it alive. If you’ve planned well, you should have a well-stocked larder of cash in the bank, but you’ll need to keep restocking this well before you run out. One week without enough cash and your business will be ill, and longer periods could bring it an early and painful death.
Where will this ‘food’ come from? The best place is customers. This cash becomes yours in return for your services. The other sources of cash cost you money – the bank, other lenders and even your investors cost you money in the long run, as they’ll want to be paid back more than they put ...
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