Viper Strategic

Make Hay Whilst The Sun Shines

If the old adage is true then we should be making improvements to systems, processes and new business generation when everything's going well. Why is this? Well as anyone in a small to medium sized business will tell you, cash is king. If you ignore your cash or assume that because you are busy doing today's work that you don't need to worry about tomorrow, then you are likely to be dead in the water before you know it. One of the key tricks to running a successful business is to ensure you know what your medium term window is like. What's this piece of management speak really about? Well you need to know where in the next 90 days your business is coming from. What issues are coming down the tracks in terms of seasonality, customer behaviour, customers' credit terms and payment ability, spikes in cost in terms of people, hardware and the dreaded tax returns. It really is a constant juggling act. Ensuring you know when and from where your revenue is coming in and how and when your costs are going out. Cashflow is the lifeblood of the business and just as important as having great people, great products and great vision. None of these things are mutually exclusive or more important than another. You simply must keep eyes open to everything. We had an interesting meeting with Business Link to critique how we are doing on all fronts and signs are that we do actually have our eyes on all the balls. But never resting on laurels we decided we should do this when things are going well rather than wait until a slippery slope downhill. After all it's summer, the sun is shining, so let's make some hay.

- Posted on Thursday 10 Jun 2010 at 20:32 by Neil Wilkins

Tags: cash-flow (2)

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