Greg is a sought-after speaker. Having faced many of the trials and tribulations facing the small business owner, Greg offers his audiences and clients practical actionable ideas to improve their organizations and ultimately get more “life” out of their business.
https://gregweatherdon.com/
Small Business Minute #20 – Cash Flow – The Breath Of Life
Prior to starting my own business, I literally devoured everything I could about owning and running a company. One thing that I could never understand was how a perfectly good business ended up going bankrupt because of cash flow problems. It wasn’t until I started my own first enterprise that I quickly learned that regardless of how profitable you were, it didn’t matter until that money was in the bank- Cash flow ruled!
Cash flow in a business is much like the oxygen we mere mortals need to survive. Getting paid for what we do is like breathing in, it’s the oxygen our business needs to survive. On the other hand, paying our bills is like breathing out. Much like our bodies, we can’t just breathe out nor can we just keep paying bills, we need a constant source of cash coming into our businesses and the only way to do that is to make sure our receivables are current.
Get Over It!
All too often I hear owners tell me they don’t want to annoy their customers by constantly bugging them. To this I usually respond with “get over it”. You’re entitled to your money and you need to get a little more serious about it. If dealing with consumers,