Do me a favor — forget whatever you knew about businesses — starting one; running it; marketing it and even selling it. Forget the fancy degrees and whatever else you did to get around to even THINK about business. Remember just one thing:
Cash In Must be More than your Cash out.
That’s the corner stone to business success. You won’t exist without it. Never.
Not just business, it will work for Investing and saving money too. So even if you are really Interested about businesses, look at your personal financial situation — if this basic tenet is not being fulfilled, you are likely to be in doldrums. Don’t even start a business if you can’t see this happening within a set, pre-determined time. Don’t even talk about marketing plans and financial planning ; funding and systems develoment ; IT implementation and EXIM, if you don’t get that equation right.
Most businesses falter because they don’t get it. Businesses tend to rush in to fill demand. Do things that are unnecessary - scores of meetings are held to ‘talk” about situations. Well, if you want to bail out of one potential killer situation - get the cash flow management right.
No Comment Received
Leave A Reply