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Cash Flow Iceberg: Do you know what's under the surface?

I absolutely LOVE this infographic! So often, business owners make important decisions based on what they THINK their cash assets are. One forgotten tax bill, uncleared check, or late invoice payment can make a HUGE difference in a company's actual financial situation. I learned a long time ago that financial security requires forward-thinking. You can't bank on what's in the bank today, even if you're regularly reviewing your financial statements (which, let's be honest, few business owners do often enough). Here are a few simple questions to ask at the start of every week to make sure your cash flow is on track: - What auto or recurring payments will be hitting my account this week? - Are there any open checks (for payroll, suppliers, utilities, etc.) that may clear the bank this week? - Do I have any big expenses to prepare for this week? (Payroll, inventory orders, etc.) - Do I have enough in my account TODAY to cover all of these? - What income am I expecting this week? Is there anything I can do to ensure this money comes in as expected? (Follow-up calls, reminder emails, etc.). If you're a business owner, make sure you know the answers to the questions above. It's this diligence that helps companies weather crises, reduce risk, set goals, and grow sustainably.




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