Cash is king. Everybody knows it and yet businesses are lax in their cash flow reporting and forecasting. CEO and founder of TGG accounting, Matt Garrett explains why “cash is king” and what you can do to have more of it and move the cash you have more wisely.
55% of businesses are failing in the first four years. According to The Brookings Institute 11% fail every year thereafter. This is all attributed to lack of cash. Here are 6 elements of cash flow management to watch:
DSO (how fast you get paid)
DPO (how fast do you pay people)
Discounts – give them to get paid faster, ask for them to reduce expense
Human capital management (utilization)
Inventory management
https://youtu.be/H1j2Mb7Mn44
This post was reviewed by our team of accounting and financial experts. TGG’s mission is to make business owners’ lives better through excellent financial management. We strive to provide the most up-to-date and objective information on accounting-related topics so our readers can make informed decisions based on factual content. All posts undergo a review process with at least one member of our Leadership Team to ensure accuracy.
This post contains trusted sources. All references are hyperlinked at the end of the article to take readers directly to the source.
https://tgg-accounting.com/wp-content/uploads/2014/08/iStock-1071168868.jpg14142121Kaiti Weimerhttps://tgg-accounting.com/wp-content/uploads/2020/03/TGG-logo_whitespace-300x300.gifKaiti Weimer2018-08-24 18:56:002021-09-29 15:54:11Cash is King
Sales and Marketing is a far more regular team than sales and accounting. CEO Matt Garrett outlines the many ways that sales and accounting are actually on the same team.
Sell more to your existing customers
Keep your sales team accountable
Teach you how to set up compensation structures to get the most out of your sales team
Drive forecasting
Understand your ideal demographic and assess whether you are currently selling in the right market.
This post was reviewed by our team of accounting and financial experts. TGG’s mission is to make business owners’ lives better through excellent financial management. We strive to provide the most up-to-date and objective information on accounting-related topics so our readers can make informed decisions based on factual content. All posts undergo a review process with at least one member of our Leadership Team to ensure accuracy.
This post contains trusted sources. All references are hyperlinked at the end of the article to take readers directly to the source.
https://tgg-accounting.com/wp-content/uploads/2020/03/iStock-1147724071-scaled.jpg15892560Buzbuzzerhttps://tgg-accounting.com/wp-content/uploads/2020/03/TGG-logo_whitespace-300x300.gifBuzbuzzer2013-12-24 18:48:062021-09-29 15:54:29Sales and Accounting – They make a great team.
Cash is King
55% of businesses are failing in the first four years. According to The Brookings Institute 11% fail every year thereafter. This is all attributed to lack of cash. Here are 6 elements of cash flow management to watch:
This post was reviewed by our team of accounting and financial experts. TGG’s mission is to make business owners’ lives better through excellent financial management. We strive to provide the most up-to-date and objective information on accounting-related topics so our readers can make informed decisions based on factual content. All posts undergo a review process with at least one member of our Leadership Team to ensure accuracy.
This post contains trusted sources. All references are hyperlinked at the end of the article to take readers directly to the source.
Sales and Accounting – They make a great team.
Sales and Marketing is a far more regular team than sales and accounting. CEO Matt Garrett outlines the many ways that sales and accounting are actually on the same team.
This post was reviewed by our team of accounting and financial experts. TGG’s mission is to make business owners’ lives better through excellent financial management. We strive to provide the most up-to-date and objective information on accounting-related topics so our readers can make informed decisions based on factual content. All posts undergo a review process with at least one member of our Leadership Team to ensure accuracy.
This post contains trusted sources. All references are hyperlinked at the end of the article to take readers directly to the source.