Claremount clients will be used to hearing the mantra “know your numbers”. This is because one of the key factors behind business failure is that business owners are unable to look after financial obligations in time, due to limited cash resources. One way to avoid unwittingly falling into this trap is to monitor your cash flow on an ongoing basis, and try to hold a reserve in place for unexpected costs and contingencies. Put simply – it doesn’t matter if you have the most fantastic invention, or the best product range, or how wonderful your staff are with your customers, the plain fact of business life is that if your cash stops flowing – you just won’t survive. Many business owners make the mistake of concentrating solely on profit margins to the detriment of their cashflow and only realize the error of their ways when it’s too late and they are under pressure. As Theo Paphitis put it, lack of profit will kill a business slowly but lack of cash will kill it the same way a heart attack kills a person.
Cashflow Tracker System
At Claremount, we encourage all our clients to have an ade-quate cash flow monitoring mechanism in place. We pro-vide a bespoke tracker system that lets you know your num-bers at any given time, rather than just a once a year exercise for tax, banking or accounting purposes. This system allows you to analyse, plan ahead, manage and prepare for any potential pitfalls. The thing you NEED to be doing now, is the SAME thing you should have been doing all year long .
You need to know your numbers. If you are one of these business owners who doesn’t know their numbers inside out ask yourself why this is the case. Let us help make it easy for you with our tracker system. Take immediate action now and book a consultation regarding a bespoke cashflow system for your business. Contact Pol on 028 7126 6420 for a free consultation during the months of October and November or email pol.barwise@claremount.net.