The golden rule of business 👇
Don't run out of cash
Sure, your turnover might look great. But then you start to wonder. "where's all that cash gone at the end of the month?!"
First, you need to understand the mechanics of your business.
You need data. Realtime data to understand where your cash is going (and has gone 😳 ).
The good news is that the tools now exist to build a streamlined internal bookkeeping machine. This is the foundation.
Once you've got the data at your fingertips, then you can understand where every £ goes.
You now have control of your business.
Then things start to get exciting...
You can start to plan for the future. No more acting on a wing-and-a-prayer.
You can plan for future investment (or funding), recruitment, tax incentives and strategic planning, knowing where every £ is right now and where every £ will go
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If there are tools for that, they should be of great help since we would keep our business well monitored, and in this way we will achieve optimal operation, giving us the possibility of generating profits.
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