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with startups and being a startup ourselves, we know too well that one of the main reasons businesses fold is because they run out of cash. We’ve seen it all around us, startups overextend themselves and because they are not tracking their money at all times, they wake up one day and realise their year-long runway has been reduced to a week. The stories are out there to be read and headed, but startups can avoid failure by getting smart about how they spend their startup capital.
“Despite the fact that cash is the lifeblood of a business – the fuel that keeps the engine running – most business owners don’t truly have a handle on their cash flow,” says Philip Campbell, a CPA, and former CFO, author of Never Run Out of Cash. “Poor cash-flow management is causing more business failures today than ever before.”
Trying to run a business without meticulously managing cash flow can land even the richest round raisers in trouble. You’re effectively shooting yourself in the foot and undoing all the great work you’ve managed in terms of proof of concept, investment, and R&D.
Here are 10 essential tips to help put your startup firmly on the path to successful growth.
“Despite the fact that cash is the lifeblood of a business – the fuel that keeps the engine running – most business owners don’t truly have a handle on their cash flow,” says Philip Campbell, a CPA, and former CFO, author of Never Run Out of Cash. “Poor cash-flow management is causing more business failures today than ever before.”
Trying to run a business without meticulously managing cash flow can land even the richest round raisers in trouble. You’re effectively shooting yourself in the foot and undoing all the great work you’ve managed in terms of proof of concept, investment, and R&D.
Here are 10 essential tips to help put your startup firmly on the path to successful growth.
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