“Most business leaders focus on increasing income and going after new customers, intent on raising the amount of cash flowing into the company coffers every month.
That’s understandable. But it’s only half the equation. The other half involves cash flow and expenses. It’s an area that can prove difficult to contain. It may also lead to a business – especially a small one – getting into deep financial trouble.
Companies without a detailed picture of expenses may run low on cash, making it hard to plan for expansion and growth. Even worse, it can prove difficult to buy needed equipment, supplies or even make payroll.
Clearly, getting a strong handle on costs can make the difference between business success and failure.”- KEVIN WALKER