"businessman" Robert Kiyosaki describes in his book "Young retirement, retirement Rich", is "a person sees an opportunity, and put together a team, and build a business that takes advantage of this opportunity "
I must assure you that if you do not have a place in your business systems where things independent of you, then you are not business Administration - contractor're self-employed.
now it may seem a tad harsh but very true and I can confirm that the lack of systematization is going to catch up with you sooner rather than later.
when 'you are working in your business is still used to you by "A" business while when the "systems" work-then you really go out for being' Entrepreneur.
cash management system is the fuel to 'assets car "you want to pay, and will be the mismanagement of that cost definitely for you in terms of sales lost, late payments, bank charges, rupture, business growth is not effective, etc., etc.
I've been through many of the poor cash -management say that most companies have the scope to improve 20-50% of cash management in terms of value and timing. so, if you are running for cash management best system I bet that there are some small adjustments can still make that will generate instant cash for you, now!
Are you aware of the basis of six stages in the cash management business? on a scale of 1-10, how to improve these systems It is (1), being too weak for 10 being so strong?
(1). cash generation - any sales or other activities that generate cash. there we want to measure the profitability of the project instead of the top line numbers.
(2). Cash accounting - and that means making sure the sales - sharing services with cash involving invoices and the positions of debt owed.
(3). Cash expenses: This is the working capital used to finance the project / business processes.
(4). Monetary Receipts- This is where we reduce the debt owed by us, again more we systemise less time consuming this activity it would be.
(5). Management Debtors- This is where the management not only of religion £ which will come in but also the quality as well. Once again I would like to show you in the 'cash flows now! Associated with the system and the more we have the values of this activity - the more money you can generate in our business.
(6). Monetary Reinvestment / Retention- This is where most companies lack a plan and not having a plan means the absence of effective reinvestment / retention.
as you can make it any weakness in any of the six stages will have a spiraling effect on the bottom of the business.
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