Cash Management
You have money coming in and money going out. Cash management is how you make sure you have sufficient cash when you need it.
What is the objective?
To project your cash needs and provide for them.
Why is this important?
To make sure you have the cash when you need it and to plan the best way to use surplus cash.
What do you need to know to do this?
You need to know projected sales and how strategic moves in your business will affect your cash flow.
The Project
Turn your strategic plan into financial projections and create models so that you can see where there may be problems before they occur. There are a number of ways to deal with cash shortages and overages. Knowing they are coming are the first step in dealing with them.
In the Small Business Academy you will learn how to use a cash flow tool and the best strategies for getting and using your cash resources.
How will you you know you have succeeded with this project?
You will have peace of mind knowing that you have sufficient cash to cover upcoming expenses and investments in your business.
What is important to carry on to the next projects?
You will carry forward your projections so you know what you need to do to make sure you are covered.
Join small business owners just like you in the free Business Owners Success Club online community for more resources and discussions about this and other projects.
