Entrepreneurs' Blog

Posts Tagged ‘Jamie Constable EBA Millionaire Mentor

Businesses need cash to be able to pay staff on time, buy supplies, repay debts on time and to pay dividends etc. If you don’t have cash to pay a supplier when the payment is due, you might find you lose the trust of the supplier and the outlet AND they may declare your business insolvent.

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.”

All too often business failure takes business owners by surprise. You can still have large contracts in place but suddenly the cash dries up and your cash flow resembles the Sahara!

The Bespoke Goody Bag Company provide bespoke goody bags for events, launches, promotions and PR Campaigns.

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.



  • 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

About EBA

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...

 

Entrepreneurs' Blog Bottom