IoT is something I have been talking about a lot lately and am pretty excited about it. In fact, most people that get it and see its potential are excited about this new wave of disruption. However, when I speak with most people, there doesn’t seem to be a very strong understanding of what the IoT is and what its implications are. It’s very easy to write it off as another buzzword that gets analysts excited, but if you’re not learning you are missing out on earnings.
Cash is often referred to as the lifeblood of an organisation, a key factor that determines business success or failure. In many cases, cash is vital for daily survival; a small business that doesn’t have enough cash on hand to pay suppliers might not be able to open the next day.
Speeding up the conversion of sales into cash, as well as increasing the spread between inflows (receipts) and outflows (payments) will help to build a cash cushion for business sustainability. With this cushion, you can take advantage of cost-efficient opportunities, fund growth, and more.
Here are some quick tips to improve cash flow for your small business.