cash flow
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is so important Because it’s the issue that puts people out of business. On that happy note, let’s get started! 2. Cash flow basics One of the biggest lessons is: Your company cash flow will be the first thing to put you out of business. Cash flow basically means "Do I have enough cash in my bank account to cover my expenses?" Sounds stupidly simple, but you’d be surprised at how many people ignore this. So why is this the No.1 killer of small businesses? Here are the two main reasons: Companies aren’t realistic when it comes to predicting their income and expenses. They overestimate their income and underestimate their expenses. Companies don’t see a cash shortage coming and they run out of money You can have the most amazing service or product in the world, but if you run out of cash, it won’t matter.
3. What to do about it In order to keep track of your cash flow, you’ll need a simple spreadsheet tool, the favorite is Excel. The idea is simple: enter how much money is coming in versus how much money is going out. The most important thing is that the values go at least three months into the future (but actually it is recommended 12 months). The beauty of having a realistic cash flow spreadsheet, is that if you see your bank account going into the red in three months time, you’ll have plenty of time to do something about it. 4. Tips for keeping your cash flow happy Hopefully you’re convinced of the importance of watching your cash flow, but how do you keep it healthy? Here are some suggestions: (1) Spend as little as possible. This is especially important in the early days of your business. Before you make any purchases over $50, ask yourself "Do I really need this?" If not, you can live without it. Don’t don’t (2) Don t buy hardware you don t need. This goes along with the above rule, but it’s worth specifically mentioning. Until you are forced to replace it because it died.
(3) Be brutally realistic. Always overestimate your expenses and
underestimate your income. Your cash flow should always be a ‘worst-case sce’nario’. If you know you can stay in business when things aren’t going well, then you know you’ll be excellent if the best-case scenario happens. they’re (4) Chase invoices the minute they re late. It may sound harsh, but the minute that an invoice is late, call the company and start pressuring them. If they think they can get away with late payment, then they’ll put you behind all the other customers they have to pay. (5) Update your cash flow regularly. As time goes on, you’ll realise that that some of your predictions about income and expenses were wrong. When this happens, update those figures to make your cash flow realistic. Updating your cash flow weekly is recommended. (6) Cut expenses as much as possible. Have a hard look at the expenses column on your cash flow. Is there anything you can find a cheaper deal on? Anything in there that isn’t absolutely vital? Saving just a few dollars per month will really add up. don’t (7) People don t always pay on time. When planning your cash flow, always account for the fact that it usually takes people longer to pay you than you think. Make sure that your cash flow doesn’t depend on certain invoices being paid on time. If your cash flow is dependant on a specific invoice being paid on time, make sure to communicate with the company at least four weeks before it’s due to make sure it will be paid on time.
Related information
Cash flow
公司在一个时期内产生及使用的现金额, Cash Flow 现金流 公司在一个时期内产生及使用的现金额,计算方法为将非现 金开支(例如折旧)加回税后净利润。现金流可用作公司财务实力的指标, 金开支(例如折旧)加回税后净利润。现金流可用作公司财务实力的指标,有时也 指一个交易日内股票交易的成交额. 指一个交易日内股票交易的成交额.
3. What to do about it In order to keep track of your cash flow, you’ll need a simple spreadsheet tool, the favorite is Excel. The idea is simple: enter how much money is coming in versus how much money is going out. The most important thing is that the values go at least three months into the future (but actually it is recommended 12 months). The beauty of having a realistic cash flow spreadsheet, is that if you see your bank account going into the red in three months time, you’ll have plenty of time to do something about it. 4. Tips for keeping your cash flow happy Hopefully you’re convinced of the importance of watching your cash flow, but how do you keep it healthy? Here are some suggestions: (1) Spend as little as possible. This is especially important in the early days of your business. Before you make any purchases over $50, ask yourself "Do I really need this?" If not, you can live without it. Don’t don’t (2) Don t buy hardware you don t need. This goes along with the above rule, but it’s worth specifically mentioning. Until you are forced to replace it because it died.
(3) Be brutally realistic. Always overestimate your expenses and
underestimate your income. Your cash flow should always be a ‘worst-case sce’nario’. If you know you can stay in business when things aren’t going well, then you know you’ll be excellent if the best-case scenario happens. they’re (4) Chase invoices the minute they re late. It may sound harsh, but the minute that an invoice is late, call the company and start pressuring them. If they think they can get away with late payment, then they’ll put you behind all the other customers they have to pay. (5) Update your cash flow regularly. As time goes on, you’ll realise that that some of your predictions about income and expenses were wrong. When this happens, update those figures to make your cash flow realistic. Updating your cash flow weekly is recommended. (6) Cut expenses as much as possible. Have a hard look at the expenses column on your cash flow. Is there anything you can find a cheaper deal on? Anything in there that isn’t absolutely vital? Saving just a few dollars per month will really add up. don’t (7) People don t always pay on time. When planning your cash flow, always account for the fact that it usually takes people longer to pay you than you think. Make sure that your cash flow doesn’t depend on certain invoices being paid on time. If your cash flow is dependant on a specific invoice being paid on time, make sure to communicate with the company at least four weeks before it’s due to make sure it will be paid on time.
Related information
Cash flow
公司在一个时期内产生及使用的现金额, Cash Flow 现金流 公司在一个时期内产生及使用的现金额,计算方法为将非现 金开支(例如折旧)加回税后净利润。现金流可用作公司财务实力的指标, 金开支(例如折旧)加回税后净利润。现金流可用作公司财务实力的指标,有时也 指一个交易日内股票交易的成交额. 指一个交易日内股票交易的成交额.