I don't know about you but I'm tired of the small business statistics, according to Small Business Administration research, that report, only half of new businesses survive for the first five years and only one-third of new businesses are able to survive for 10 years.
Knowing what steps one would take to solve problems when they occur, because they will occur, can go a long way toward saving your company. While any unforeseen situation can cause for a nightmare, one important factor to question all business owners should ask themselves is, do I have a solid financial footing in place? Regardless of how the business fares out, it should not make your personal financial matters worse.
Negative cash flow can push successful businesses into tailspins, with profit driven efforts rapidly changing to panic and insecurity. If done properly, business owners should be able to detect problems brewing months away and develop uniquely designed strategic solutions. Unfortunately, many business owners don't have solund processes inplace to predict, revenue, expenses, and cash flows.
Let's make note of 4 key ways to examine and maintain a positive cash flow:
As with any business, planning is essential. It's no secret that small business owners have a lot to do. The financial implications of business ownership are extensive, yet critical to a company's success. However, starting your own business could be the ticket to the personal autonomy and financial independence you’ve always wanted.
Your vision will dictate your outcome. Fontenot & Associates Solutions, LLC is experienced with developing the business tools necessary to measure business success, visit us here to get started today.
Did I mention you can also find our article about your business cash flow is on the online magazine, Business Business Business?
My mission is to offer the best accounting and operations solutions and tips for entrepreneurs and small to mid-size companies worldwide seeking to close their process gaps with actual solutions.