As All of us , I run a small software business here in Thane , India. I have a team of developers , designers and customer support executives to support the Customized Inventory Software Development we do.
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I have been building this business since last 10 years and was able to sustain the business needs and increasing pressure. But no where I could see the real cash in accounts. All the time , I was receiving good money from the products and services sold and Boom… Money just vanishes in the air. Nothing Left.
We had Good Product , Lot of Market Potential , Existing supportive customer base , Excellent Team , And a very kind hearted Angel Business Partner. But all this does not seem to be working for cash flow. We were in constant cash flow problem . We lived check to check and was always running around to manage the monthly expenses.
We have a simple business model , no bank or any kind of debt…Still we did not see the light at the end of tunnel.
My frustration was increasing and I began searching on Internet about the possible solutions I could have so that I can turn around this situation completely and live the dream life I wanted.
Then I came across this Book
I came across this book accidentally. While I was reading the sample chapter , I literally had tears in my eyes. It was such a true thing that I did not manage the cash I had generated properly.
Not only I misbehaved , I was simply wasting away the most important part of my business… ME !
All Business Owners – Small or Big MUST READ THIS BOOK. The link is already at the right side side of this page.
The things that I learned from this book : –
- Cash is the most important part of my business and it needs to be protected
- We all need to pro active in planning the cash requirements for GST , Income Tax or any other Govt Liabilities
- Owners are the most important assets in any business and must be paid first
- Your business should generate profit from each payment you receive not at the end of the year
- You need to regularly take the profit – Actual Cash not on paper…. ( Book suggests every Quarter )
- Debt in any manner is BAD MONSTER – Book also teaches us how to be debt free by generating cash from your own business… No more crying, pleading and running around to friends and relatives
- But the Most Important – start living in your limits – Never allow your expenses to cross the income – Simple Mathematics … But so true.
- Start Innovating … YOUR BUSINESS WILL SHOW YOU THE WAYS !
This book is a must buy for all business owners – Existing as well as New Entrants… ENJOY And do send me the comments at the bottom of this post after reading