The Business Money Book (Business Best) [Perfect Paperback]

Jeannette Cloud (Author)

Book Description

Series: Business Best | Publication Date: March 15, 2007

Never were truer words ever spoken. Is it possible for profitable companies to go out of business? Absolutely the bankruptcy court is full of these kind of businesses. A successful business is a myth without positive cash flow; you cannot pay the rent and utilities, order supplies or inventory or pay employees without the daily cash that makes a business work.

Editorial Reviews

Review

"Thorough and practical. Simple explanations of all the right moves to manage cash. Jeannette Cloud clearly makes the connection between sound business practices and positive cash flow." Joseph A. Drago, CPA, CFO Western Springs, IL -- Testimonial

From the Publisher

No matter how large or how small your business, the most important factor to ensure its ultimate success and viability is positive cash flow. Literally, cash is king. You may have an exciting product line, you may have the best technology, you may have a great team, but unless you have the fuel-cash-that makes it all work, your business is in trouble. Paper profits may look good but it is cash that will keep you in business.

According to the Small Business Administration (SBA), nearly 80 percent of new businesses fail within the first 3 years. Frequently a new business is good for a year or two-suddenly it runs out of ideas, customers, vendors and most importantly it runs out of money. Many businesses are undercapitalized from the start; many more do not manage cash flow and expenses properly because they never learned how to do so correctly.

Managing cash flow is taking care of the basics of your business-whether you sell products or services, are for-profit or not-for-profit. It is not complicated nor is it steeped in mystery. You do not need sophisticated accounts receivable and accounts payable programs nor do you need to be a financial genius to do some short-term cash planning. What you do need is a clear understanding of the principles of cash flow, credit and collections-which is what this book is all about.

Do remember that every business is vulnerable, no matter how long they have been in business. The economic climate changes, a big contract is lost, products and technology become obsolete or key employees leave. But you can weather these storms if you anticipate them and plan for major changes.

As the owner/manager you must be absolutely resolute in your determination to maintain and build your cash reserves, using every resource and every program available to you. Pay out as little cash as possible and as late as possible and take in cash as early as possible. Simply put, you need to learn: ? How to make everyday decisions to improve cash management. ? The importance of updating your cash management program. ? The value of the six C's of credit. ? How to improve your collection process. ? Why you should give customers incentives to pay. ? The proper use of collection calls and letters to get paid quickly. ? How to get the entire team involved in cash and collections.

You do not need to hire consultants or send your collection efforts out of the office; instead use the practical, useful and simple advice provided in The Business Money Book. Please remember that it does you no good to change your procedures one month and then fall back into old habits. Cash flow, credit and collections need constant vigilance and careful attention. Learn to survive, even thrive with cash in the bank!

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Product Details

• Perfect Paperback: 152 pages
• Publisher: Encouragement Press Llc (March 15, 2007)
• Language: English
• ISBN-10: 1933766182
• ISBN-13: 978-1933766188
• Product Dimensions: 8.8 x 5.8 x 0.4 inches
• Shipping Weight: 7.2 ounces (View shipping rates and policies)
• Amazon Best Sellers Rank: #3,537,427 in Books (See Top 100 in Books)