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News

Cash is King

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.jpg 1414 2121 Kaiti Weimer https://tgg-accounting.com/wp-content/uploads/2020/03/TGG-logo_whitespace-300x300.gif Kaiti Weimer2018-08-24 18:56:002021-09-29 15:54:11Cash is King
News

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.

  • 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.jpg 1589 2560 Buzbuzzer https://tgg-accounting.com/wp-content/uploads/2020/03/TGG-logo_whitespace-300x300.gif Buzbuzzer2013-12-24 18:48:062021-09-29 15:54:29Sales and Accounting – They make a great team.
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© Copyright – TGG Accounting | TGG Accounting is not certified by the California Board of Accountancy to perform public accounting. Therefore, we do not provide tax return preparation, audits or CPA reviewed or compiled statements. Disclaimer: Services being offered do not require a state license.

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