It’s essential you know how much money you need to bringin every week to cover costs.
- Keep track of sales daily
- Adapt quickly to unexpected changes
- Keep on top of your running costs
- Make sure you can deal with sudden increases or exceptional costs.
While it’s hard to predict what might happen in the future, you need to think ahead. Try to be aware of things like when loans are due, when equipment may need to be replaced or any other situation that could lead to a large amount of expenditure.
Good advisors can make a big difference to your business. When you are surrounded by experts you can trust, it’s easier to make the difficult decisions that can be the difference between success and failure. Do you work closely with your advisors?
