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Tips, advice, and information for South African business owners

20 Mar

Cash Matters

The extent to which your business can finance your personal financial freedom and create generational wealth for your family hinges on the cash that it generates. Not sales. Not profit. Cold, hard cash. A business (like any asset) has to put cash in the pocket of its owner to have any value.

Cash, of course, is also integral to your company’s sustainability. Nothing kills a business quicker than a cash crisis. You don’t need to be profitable or even generate any sales to continue trading. But as soon as your cash dries up, the end is nigh.

So what are you doing to upgrade your company’s ability to generate more cash?

Most business owners are entirely dependent on just two activities:

1. Making sales.

2. Cutting costs.

Obviously both of these are important and require attention, but there are dozens of other tactics for creating and saving cash that the vast majority of entrepreneurs either know nothing about or don’t bother implementing. They give themselves just two paths to success instead of exploiting the full array of cash generation opportunities.

This cash management illiteracy is the number one reason why so many smaller enterprises fail, and why the vast majority of business owners never get what they want. They pour decades of blood, sweat, and tears into their business – constantly putting everyone else’s needs ahead of their own – only to fall short of the better future that inspired their entrepreneurial journey in the first place.

You deserve better.

Look beyond sales and cost cutting, and start growing other cash inflows for your business.

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