Never take your eyes off cash flow

• Majority of businesses have seasonal fluctuations – slow periods, steady periods, peak periods (you need to have cash put aside for these slower times and when things are rocketing along, don’t get overconfident and spend all your cash on unnecessary things. Also, different bills come at different times i.e. BAS liabilities, insurances, power, holiday pay, budget for these – be ready for when they come.

• Don’t be undercapitalised, have that war chest available – nothing ever goes to plan – things break, staff leave, customer don’t pay, equipment needs upgrading. The Best businesses always have that rainy day fund.



• Be vigilant with your debtor collection strategies – have clear and transparently payment/engagement terms with clients. Be timely with overdue reminders, communicate with clients – offer payment plans, if necessary, know when do send to a debt collector. There’s no use being busy, producing a heap of work if you aren’t going to get paid for it..