Many businesses especially small businesses focus so much on marketing and product and service development, which is important.
But one aspect that is so important is often ignored, I’m talking about the Cash Flow. It is so prudent to differentiate Cash from Profit. Cash in this case is the money at hand or money in any form that can be accessed easily.
Many profitable businesses went down the drain because of their inability to manage their Cash Flow.
A business even in debt is more likely to survive than a profitable business which often enters the cash trap. It is therefore eminent for every business to ensure that there’s always Cash at hand. And remember the old adage, “a bird in hand is worth two in the bush“
Innovative Product Technology, Design Thinking & Business Development