Money Management : An Outside idea

Money Management Outside ideas Business Support Business consultancy Business Growth Mastermind Groups 121 Coaching

Money Management : An Outside idea

Money Management in a small business can be tricky. It tends to not be the reason you’ve gone into business for yourself, unless you’re an accountant or a bookkeeper, and it can feel like an alien landscape.

I was talking to a business owner the other day and he told me how he’d had the best month of sales in years. He said that he was over the moon until he logged into his bank account and realised what all the increased sales meant.

He was skint…

It all looked good on paper and in theory. He’d had bumper month after bumper month but his cash flow had deteriorated to the point where he was seriously concerned about how he could pay his bills.

This guy hadn’t been keeping an eye on the numbers and had continued to let long-standing customers pay late and on terms that might have been acceptable in the past, but that should have been revisited as the business grew.

The cash flow gap was just too wide.

Your cash flow gap is the period between when you pay for stock, services or other costs associated with making a sale – and the date when you get paid for that sale.

If you don’t pay attention to your cash flow, you won’t stay in business. You’ll have problems paying your suppliers and you’ll find yourself digging into your personal savings or borrowing just to stay afloat.

My question for you this week is:

  • Do you know what your cash gap is?

If you could do with some support in growing your business, get in touch – at Outside ideas we’re on a mission to help people and businesses grow.

Onwards and Upwards my friend.


Outside ideas Business Growth Business Coaching Mastermind Group Business Networking Business 121 Coaching


Related Posts

Thanks for checking out our blogs!

Outside ideas is an entrepreneurial business growth company, & we're on a mission to help people & businesses grow.

Offering 1-2-1 Coaching, Mastermind Groups, Networking & access to a kick ass community – as well as business workshops & free resources.

Here's our upcoming events...

Here's some more of our latest blogs...

  • Networking in… goes ape!
    On Monday, 27th June, we had a physical Networking in… session at Go Ape in Bracknell, for a networking event […]
  • Start with the end in mind – Are you pushing rocks uphill?
    Start with the end in mind – Are you pushing rocks uphill? Pushing Rocks uphill I saw a post earlier […]
  • Know your avatar
    Know your avatar Do you remember the “Share a coke” campaign? They changed the “traditional” wrapping around the Coke bottle […]
  • 3 feet from gold
    3 feet from gold Business can be quite unfair. In Think and Grow Rich, Napoleon Hill writes about a man […]