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Cash Flow Explained
Cash flow of a company is simply the amount of cash that flows in and out of your business. If you’re bringing in more cash than you’re spending, you’re blessed with a positive cash flow. If you’re spending more cash than you’re raking in, then you may eventually join the long list of failed businesses. Wishful thinking doesn’t help your cash flow for your small business. Taking action can.Step 1: Figure Out if Your Idea is Even Feasible
Before you even officially launch your business, the Small Business Administration recommends making a nice long list that can determine if your business will even work in the first place. Your list needs to contain:-
- Startup costs, such as licensing fees, business signs, stationery and cards
- One-time expenses, such as a new computer system, ergonomically correct office chair, stereo system and redecorating for your new home office
- Monthly expenses, combining fixed expenses like utilities with variable expenses like inventory, packaging and shipping
- Sales projections
- Categorizing tax qualifications
