Money Makers Myth #002 - My business is too small to get help with the financials - I need to do it myself
If you have the time to study how to prepare your management accounts, how to manage cash flow and how to forecast your business - then also the time to implement it all, and keep everything up to date, and you understand how to read the numbers so you understand what they are tell you - then YES - you absolutely can do it all yourself....you don’t NEED to, but you CAN.
However, if you are not prepared to put in the time to learn, and the time to implement, and keep up to date with your numbers...then you NEED to get some help in this area.
95% of business fail in the first 10 years and for MOST, it’s because they run out of cash...why do they run out of cash?
Because there is no robust cash management system in the business. No system has been put in place to monitor the cash, and no one is keeping a close enough eye on it.
SOMEONE needs to be implementing a robust cash management system in your business, it can be you, or someone else...but ignoring it doesn’t make it go away….ignoring it ultimately makes your business go away….permanently.
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