Are Cashflow Problems Killing Your Business and Motivation?
The strength of your cashflow is one of the key factors that will determine the sustainability of your business.
There are so many factors that can influence your cashflow, internal and external. Most, but not all of them, can be controlled by you.
Those that can’t be controlled by you include such events as the current COVID-19 pandemic and the Government measures put in place to counter the effects of the overall health of the population. Mother Nature also can present us with some nasty surprises by way of floods, bushfires, storms and the like.
Still, there are things you can do to improve your cashflow and cost control. Graham Burfield, Principal of Burfield & Associates Chartered Accountants, has put together an excellent article on this very subject and I encourage you to read it and follow the advice given. You can read it here.
Other issues that may also affect your cashflow are sometimes not so evident as the advice given in Graham’s article. Such issues can include such factors as staff culture, marketing strategies (or absence thereof) and customer service planning. These are all facets of the business that require regular review and where necessary, changes made. Naturally, we would be happy to chat with you about these and any other strategies that could help to improve your cashflow and overall business performance.
CEO & Founder