When companies are small, if you run out of cash it’s OK. You know you’ll make it up tomorrow or next week. And there isn’t that much that you can’t cover by borrowing from your mom or your credit card if you run short for a bit.
However, as you grow, you really need cash flow, and you can’t bob and weave like you could when you were small.
Jacques Cousteau, one of the world’s most famous divers knew that cash was like Oxygen.
When he dove 10 feet, he didn’t even need a snorkel. Likely didn’t need a mask. And he surely wouldn’t worry about running out of air. He’d pop up to the surface for a quick gasp.
When he was down 40 feet. He’d have masks, tanks, and devices to measure his available oxygen. He would be very aware how fast he was using his oxygen. Jacques Cousteau knew that the deeper he got (or the bigger your business gets) the more he needed to manage his oxygen (just like you needing to manage your cash flow).
If you don’t yet have the right systems or people in place to help you manage and project your cash flow, you need them. Happy to intro you to people and systems that can help you if you don’t. Drop me an email Cameron@CameronHerold.com And remember Jacques Cousteau when you think you have enough cash to keep growing…