Cash is king - your greatest mistake is to run out of cash

Ateneo Professor on Entrepreneurship

Rizal Philippines
July 21 2019

Despite all the trash that cash or money  is getting from the Holier than Thou Groups, we need cash to transact to buy  stuff for the things we need.  In business, you need cash run the business - pay your employees and suppliers.   Cash is the stuff that makes the world the business go round.

So never run out of cash. It is the  greatest sin, mistake that your business can make.  The business world can be unforgiving if you are out of cash ie bankrupt.

Therefore:

1.  Sell  (that is the first thing in your agenda)
2. Collect your receivables promptly and decisively
3.  Anticipate your cash needs see your bankers, creditors early
4. Maintain a good credit standing with lenders and creditors
5.  Stretch your cash position by asking for credit terms and extending this a little bit
6.  Avoid the siren song of over expanding.
7. Engage in a year long cost, cash reduction measures

Sponsored by:   Holy Gardens Group:  Memorial Parks, Chapels, Funeral Service, Cremation and Memorial plans...