Entrepreneurs' Blog

05 Oct, 2011

Measure and manage your business – James Caan

Posted by: Bev James In: Business Finance|Business Tips|Millionaire Mentors|Tips For Success

A wise word from James Caan

In a recession or not, controlling cash is totally critical for business survival. Once they have been recognised, many cash flow problems can be reduced or turned around – many business owners are slow to pinpoint the problem, and then it’s too late.

Up to 90% of businesses are failing because of the lack of all round business knowledge including practical finance.

The ability to maximise cash and profits often depends upon simple proven techniques being applied (yes, applied – knowledge without action is wasted knowledge), for example: being proactive in a different way with debtors or producing monthly management accounts are very effective tools.

  • Take time to learn the right finance skills so that you can spend more time driving the business rather than losing track of it.
  • Make a list now of the top 5 financial issues you have been procrastinating on.
  • Create a focused action plan to address each one.
  • Set SMART goals – strategic, measurable, achievable, realistic and time bound goals.
  • Do it now.

James Caan

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  • Morgan Grage: I like this post, enjoyed this one regards for putting up. "No man is wise enough by himself." by Titus Maccius Plautus.
  • Derek: Brilliant article Bev, thanks for sharing. coincidentally the kilimamjaro example used is on my 2014 to do list! Ps thanks for the tips you gave me
  • jackson: thanks for your great article about developing your business idea to great business Jackson mutebi

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