An alarming rate of small businesses fails within the first two years. We all realize this fact is well established and well known. There are many reasons of course behind any business failure; it could be anything from bad product, bad market conditions, and bad management.
You will be surprised how many people you personally know actually fell into these statistics. We would like to touch on one important thing if not the most important thing when running a business, this is especially true for a small business. While big businesses can stretch and play around it many times, small businesses will crush. We are talking of course about a small business cash flow.
If small business owners paid enough attention to it, just the same amount of attention they paid to designing their shop and business cards, this would change the entire picture. The reality is, that small business owner in many cases, neglect to manage their cash flow. They neglect to manage or to pay attention to the single most important thing in their business.
Along the years we have come to know many small business owners as we design their websites and apps. We see how hard they work, and we see how they often can’t make payments. They are mostly puzzled because they have clients, they are busy as hell, and they have payments coming in… eventually…
Small business owners often lack the knowledge or even are not aware of the idea that cash flow should come first and foremost. Cash flow needs to be one of the first things you do when you start your own business. If someone doesn’t have the slightest idea of what their business is likely to earn and spend within the next 6 months, is better reconsider setting up this business anyway.
We need to keep in mind that many small Business owners are not MBA graduates and are not qualified book keepers, as we realize that, we are here to offer solutions and not just point out the problems. Thankfully, technology is offering many ways to overcome business management obstacles including cash flow management. We are happy to say that we currently offer a free cash flow module in our iQDesk free business management software which you can download here.
Shortly we will launch a new and improved version of the iQDesk small business software which will incorporate a very comprehensive cash flow tool that is designed for the small and medium business owners. So keep tuned by joining our Facebook page.
Added by iQDesk Ltd.