There are two major areas that greatly affect whether a business will succeed or fail. Poor sales and poor cost control.
If you cannot generate enough sales to cover your expenses and make a profit-you will find yourself out of business. 48% of U.S business fail every year for this very reason.
Cash flow is KEY. No cash flow-no business! In today’s global economy we need to be on the learning curve constantly and we need to keep abreast of business trends.
In one sense this is also why approximately 1.5 million Americans declare bankruptcy every year. They have negative cash flow. More is going out than is coming in. We all need strong financial discipline.
No matter how much you earn if you cannot get our spending under control you will fail.
Start the year right! Make it a priority to live below your means. Do not incur any new debt.
Jacques
CreatingWealthThatLasts
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