Lauren Najar, Lauren Najar Coaching LLC 8. It can be easy to invest and spend money on processes that will grow your business exponentially, but it’s also important to have that cash flow as well as the ability to pay back debt that is reasonable. Be intentional and have a purpose for what the investment or expense is going to help you do. Invest in processes and items that are on a needs-only basis. Thomas Lim, Thrive Consulting Pte Ltd 7. How might you tap shared services instead of hiring your own? What can be DIY or automated efficiently? Productivity and efficacy are key boosters for startups.
This is not just about cash but resources in general. So being able to leverage “other people’s money” is a great strategy if the business can do so.
Leverage All ResourcesĬonserving cash and keeping a hawkish eye on cash flow is important for a startup. What story is your cash flow telling? How is it evolving each month? What are the key financial variables that affect the cash flow? Which of these variables can have an upside? How do the company sales, profit and cash conversion cycle strategies affect cash? What are the ways to improve cash? What opportunity in pricing strategy, operations productivity or market position can affect cash? - Dennis Foo, Pu Xin ASPIRA Advisory Limited - Shanghai | Hong Kong 6. Forbes Coaches Council is an invitation-only community for leading business and career coaches.
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