Diving into Cash Forecasting

We all know cash is king. Cash is also the number one reason companies go out of business. I’m always amazed by the number of business owners who don’t use a cash forecasting tool to manage their business. Unless you are one of the lucky businesses with plenty of cash in the bank, here are some simple steps you need to dive into managing your cash flow.

The Dangers of Cutting Costs

Lowering expenses can be a good thing, if you’re cutting out non-value added extras. On the flip side, cutting costs can be detrimental to your business. I know, you think I’m crazy. Right? Think about it for a minute. Your business is successful because you offer a product or service that others value and want to purchase. Your customers have come to expect a certain standard from you and expect your product and/or service to meet or exceed this standard. Sadly, cutting costs can have a negative affect on your customers.