Cash Is King


Whether you run a large seminar business like Fred Pryor or you are a 1-person company, cash is the lifeblood of your semianr business. Here is a powerful article that describes and discusses how important it is to manage your financials properly. [amprotect=2]

I recently came across this article from Power Home Biz which will be extremely helpful to you as you build and expand your training, speaking and seminar business.

In today’s uncertain economy with ever rising interest rates, many small businesses with limited financial training are having problems staying alive, let alone prospering. In fact, 63% of new businesses don’t survive six years — and most work-at-home people fail within 6 months!

The primary reason is bad cash management. Too many self-employed people neglect their cash flow until it is too late to recover. Suddenly, presto! it ‘s back to your office job! We don’t want that to happen.

So the big question is: How will you manage your cash flow effectively? If you are not sure, then you are on shaky ground.

Les Masonson, author of Cash, Cash, Cash: The Three Principles of Business Survival and Success, says cash flow is all about, “getting the money from customers sooner, paying bills at the last possible moment, concentrating money to a single bank account, managing accounts payable, accounts receivable and inventory more effectively, and squeezing every penny out of your daily business.”

Read the rest of the article here. I am certainly grateful for this article and encourage all of my readers and members to visit regularly! That is a great site for information and other resources for all small businesses and entrepreneurs.