Entrepreneurs' Blog

Posts Tagged ‘Cash Flow

Measuring the finances of your business is an essential part of managing the business and is a critical element of sound decision-making and future planning. Many business owners delegate the financial matters to other Directors or to their accountants and often cite that they “prefer to look after the sales function or the front line team.”

If we take a constructive look at why businesses fail we find one of the biggest reasons is overtrading. What does this mean? Well, when you think things are going great, you’ve getting lots of orders and contracts, you’re growing and growing and then suddenly it seems the business runs out of cash and you didn’t see that coming. Most businesses have a negative cash flow and if you have this you have very little room to manoeuvre and actually grow your business. Cash is king. I say it all the time.

I don’t think there has ever been a better time to be an entrepreneur in the UK. The business landscape, culture and support network has, over the last few years, been transformed out of all recognition. The old barriers-to-entry have collapsed, the new world order is here, and anyone can be a millionaire.

Paul is an EBA Millionaire Mentor, was featured in Channel 4′s The Secret Millionaire and became Wales’ youngest multi-millionaire in 2008! Here Paul shares his top ten tips to POWER YOUR WAY to success:

Business life produces invaluable lessons for us, myself included and I think a lot of my success comes down to sheer hard work and determination – AND total honesty. It takes about three minutes to dig yourself into a hole and about two years to dig yourself out. Cash is king. Without cash you have no room to manoeuvre.



  • 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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The Entrepreneurs' Business Academy is a unique and highly practical one stop resource for business owners and aspiring entrepreneurs, providing a range of courses , EVENTS and materials that give step-by-step guidance for entrepreneurs on their business journey. The EBA's courses have been put together by James Caan and Bev James MD of EBA and The Coaching Academy, and specifically designed to teach its participants the skills required to take an idea and turn it into a reality. Read more...

 

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