How do you watch as cash “visits” your business? Your answer matters.
Sometimes your thoughts on how to watch your cash flow matters more than you may realize.
Why? Because your expenses are your investment in your future.
Watch your cash.
Seriously. This matters for success. Your cash stash represents your ability to persist.
Your ability to persist equates with your ability to succeed. Because you’re going to run into situations where your effort over time comes to define your business.
For good or bad! Persist over time and you will succeed.
Don’t give up! Refuse to quit!
Do you know what happens when you get that right? You can figure out what to do to succeed.
This is one of the most important lessons for small business owners. It is also among the most misunderstood of all lessons that can be shared.
Small businesses most often fail because of cash problems.
In fact, 80% of small businesses fail within their first three years.
Failure! End of venture! Not from a lack of profitability!
Watching cash flow is the life blood of your business:
- Your business pumps fresh cash in as INCOME.
- Cash comes IN
- In time for
- Your business to pump that cash out on bills for EXPENSES
- Cash goes OUT
I mean, profit is important.
But Cash Flow is King!
You can be profitable beyond your wildest dreams and plans – and still fail because of how you handle cash.
You want to do things to get cash working well in your business. That means watching!
Noticing! Paying Attention!
As in caring a lot! Care enough to take action!
Awareness! Be ready and willing to change behavior.
Because as important as cash flow is for all business? To do business online successfully, what you need most is you.
(3) Doing the right stuff
Getting good habits! For example:
As you part with cash, ask yourself how you’ll be causing that expense to generate income.
You may be surprised to find out that some of what you spend a little bit on is where investing a lot more is wise.
Paying attention to cash flow is not always about spending less.
Observe expenses. Care how expenses generates income.
Be willing to adapt based on cash flow. Every business is different.
Watch your cash! Care about your thoughts on how to watch your cash flow.