The Daily Founder Day 024: Cash Rules

Revenue is vanity, profit is sanity, but cash is king. Whether you like it or not, this saying, well, kinda says it all. Sir Richard Branson puts it this way: “Never take your eyes off the cash flow because it’s the lifeblood of business.” Peter Drucker: “Entrepreneurs believe that profit is what matters most in a new enterprise. But profit is secondary. Cash flow matters most.” Jack Welch: “If I had to run a company on three measures, those measures would be customer satisfaction, employee satisfaction, and cash flow.” In simple terms, cash flow is all the money coming in and going out. Cash is what allows you to do things and it can provide freedom and flexibility to act. In PT Barnum’s words: “Money is a terrible master but an excellent servant.” So for today’s challenge, take a close look at your cash flow and try to figure out what your current situation means so you can take good next steps. Find our great community of entrepreneurial minds on https://austrianstartups.com and please comment, engage and like what we do here. Let’s do this.