Tuesday, February 4, 2014

Cash Management Basics

Cash Management Basics

 Cash is business's lifeblood. Managed well, your company remains healthy & strong. Managed poorly, your company goes into bad condition.
If you are not considering cash management an important issue, then you're probably undermining your business's short-term stability & its long-term survival. But how you can  manage business cash better.
Start with understanding how good cash-management practices can influence your company's growth & survival by reading "The Art of Cash Management;," Inc Finance Editor Jill Andresky Fraser's classic article on the topic. Then dive into forecasting your business-cash needs & learning how to handle a cash crisis. Assembled here are practical pieces of advice, tips & tricks from CEOs, & tools that you can use to get a handle on business cash.

Handling and Avoiding Crises
How Do You Define Cash Flow?
If your definition of cash flow is flawed, & you're not tracking the right numbers, you may grow your company right into a cash crisis.

The 10 Absolutely Must Follow Cash Flow Rules
Everyone wants cash on hand at all times so here are 10 rules to help you get there.
The Magic Number
Every business has a magic number, by employing his, our columnist didn't overstaff this year. 
Riding the Economic Roller Coaster 
Tighten your seatbelt; Surviving the ups & downs of the world economy means keeping an eyes on business finances. 
When a Cash Crisis Strikes 
Credibility with vendors, bankers, & other creditors is built slowly, but can be destroyed quickly if your company falls behind on payments. So know how to break the bad news to preserve your business's relationships. 

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