Don't spend more than you can afford, and try and save money for expansion or other expenditure needs.
My biggest tip (and it's often difficult to do) is to make it a priority to ensure you have a a bit of a cash surplus stashed away. Almost like an business emergency fund of X dollars. There's nothing worse than having to badger and bug clients to pay quicker than usual because you are short of funds for a particular month. Sometimes you have to be selfish and pay the business first, to ensure it has a healthy "pad" of funds you can count on if you run into a cash flow crunch.
So, we wanted to ask you- What challenges have you faced related to Cash Flow Management? What have you found that works well?
Please reply to his discussion and share your insights and experience with the community!