YoungUpstarts
APRIL 16, 2020
Once you have achieved a calm headspace, take a survey of your cash position: How much cash is left? If you answered “no” to #2, you need to scramble to get cash in time for #3. What are my top 5 expenses as a percentage of sales? Good targets include: Underperforming sales agents. Do it again.
Up and Running
JULY 27, 2020
Why is cash flow management important? Businesses operate on cash. By cash, I don’t really mean physical coins and bills, but money in your bank account that you are able to spend. Cash flow management example. The company now needs even more cash to make more water bottles and ship them out.
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Up and Running
JUNE 9, 2020
If you’ve been going along for years with 50% of your sales on credit, and suddenly it’s 70% or 30%, that’s a red flag. A good cash flow forecast highlights the key drivers of cash flow, for your business. That might simply be sales, Accounts Receivable, Accounts Payable, or Inventory, or whatever.
YoungUpstarts
OCTOBER 16, 2016
In business, growth is a big deal, especially when you think about this: Most businesses cease operations and shutter their doors before ever really hitting their stride. But by year 10, just one-third remain in operation. Manage cash flow. At my company, our cash position is reviewed every week, come rain or shine.
Up and Running
JUNE 21, 2013
There are a series of “levers” in your business that will affect your cash position. Your business is “always on”, even if you only operate between 9 am and 5 pm, Monday through Friday. Business Planning Finance Sales & Marketing business advice Sabrina Parsons small business startup advice'
Feld Thoughts
NOVEMBER 18, 2013
The people on the sales side don’t feel they can charge for it yet because who’s going to take out their wallet for something that isn’t perfect. At month six, one of the early hires leaves, a developer who turns out wasn’t a good fit. There is $350k left in the bank. Seven months in, there is a beta product.
Up and Running
AUGUST 17, 2020
Typically this means investing in sales technology that makes you more agile and is easily scalable as you drive long-term growth. One vital, but often-overlooked, need is effective documentation, specifically when writing sales quotes. There’s less oversight and a greater potential for error that can cost you time and sales. .
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