U.S. Bank conducted a study in 2019 that concluded that 82% of all small businesses fail because of poor cash flow management or a lack of cash flow understanding. Do you know how much cash you need to operate should all your sales evaporate? Do you know how to determine that amount of needed cash?
Important questions that need to be addressed. You need to know your liquidity position, or your current cash balance AND you need to know how much you need if you didn’t sell one product or service for at least 3 months.
Cash is more important today than ever. Build your cash reserves – the message for today!
Jeff Newkirk – Blanton Advisors Associate CFO, Executive Coach