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Cash flow management
- cash is king. You can be highly profitable, but if you don't manage your debtors' payment days, creditors payment plan and other cash leakages, your business will close.
People management
- people are the face of your company, so if they don't buy into your why, then regardless of what your business does, you will struggle to grow or even sustain your current performance.
Finance management
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having financial reporting monthly with KPIs measured, helps you identify where you are potentially at risk.
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having a separate bank account from the owners, helps you manage your cash better.
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having clear rules and processes, also helps to ensure consistency in performance
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having a clear business model, knowing how you will make money and then using that to determine your revenue model should never be underestimated and should be reviewed bi-annually / annually.
charliebn
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