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Great businesses have two things in common: Culture and Cash Flow

Culture: Those of you who fly, compare SouthWest to the non discount airlines. The pilots help the attendants clean the cabin after a flight lands. No one is afraid to get their hands dirty. Good companies have great people who all pull together for a common goal-Make the Customer love you. Bad companies have little compartments were Sales fights with Credit who fights with Production who fights with the Warehouse, etc.

Cash Flow: paper profits are great, but if your working capital is tied up in the AR it is very difficult to make payroll. Every business should have a 13 week budget based on cash flow (how much cash goes in and out) every week. A business that is liquid can take discounts from supplier, enjoy great credit and give the owner that "piece of mind" feeling. I understand that if you are just starting out, money will be tight. That is why a cash flow budget is so critical.

Some months ago we had this excellent post on Global
Entrepreneurship Week. Now that we are down to less than 60 days, I want to
post this reminder.

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The Kauffman Foundation and numerous others are seeking to
promote higher rates of business formation within the US and around the world.
The hope is that young people will consider entrepreneurship as a path to
solving great challenges. For the people who want to consider entrepreneurship,
there are a host of opportunities to change the world.

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In November of this year there will be a new effort to
promote entrepreneurship. This will be the first time effort among more than 60
countries to establish <a title="Global Entrepreneurship Week"
href="http://www.squidoo.com/GlobalEntrepreneurshipWeek">Global
Entrepreneurship Week</a>. I hope this international effort will be an
inspiration to young people across the world to face the challenge of their
dreams and not to be frozen by the fear of loss.

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Shallie Bey

<a title="Smarter Small Business Blog"
href="http://businessrebirth.blogspot.com">Smarter Small Business
Blog</a>