Watching Dragons Den on Sunday it came to our attention that people are able to run a business and not be too concerned with cash flow or breakeven point or costs as long as the product or service is being done and there is cash in the bank . Scary !!!!
It is important to understand every single penny that is going out of the business, coming into the business, in order for you to plan your business and how to run it.
1. Understand the costs so you know how to reduce the costs
2. Understand the breakeven point
3. Review all procedures to ensure that you have everything covered.
Do you want to move to the next level? If yes you need to understand and conquer the level you currently occupying.
Cash flow is crucial but to not be fooled by having cash that you are successful and developing to the next level.
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