Many startups experience an abundance of stress over cash as they struggle with the reality of bills and other factors that have a great influence on the growth of a company. However, is cash the king of your business?
“Cash is oxygen and you must have enough cash to breathe”
…But is it possible to have too much cash? Well, it is important to have a clear understanding of the fact that not all problems in the workplace can be resolved by simply throwing money at them. Sometimes when you have less money to operate with, it pushes a company to seek out more creative and innovative ways to solve issues.
It is essential to not only know how to manage money coming in but also understand the strings attached to the money you may raise.
Cash is of great importance as it provides you with different options that can drive you in different directions.
Now no matter what direction you take with the cash that your company attains, be smart with your expenses!
Many entrepreneurs tend to confuse revenue with cash. Remember that the only thing that sticks to your hands is not the cash coming in, but the profit!
So, is cash truly the king of your business? Is it necessarily terrible to have too little cash? How can cash essentially steer you in the wrong direction?
Listen to this full session above!