5 tips on how entrepreneurs can take control of their cash flow

Cash flow management is the discipline of ensuring that more money is coming into to your business than you need to pay out each month. Cash flow will be tight in the early months and years of your startup’s life, so you must monitor it closely at all times.

Here are a few tips about how you can optimise your cash flow.

1. It begins with budgeting

Too many small business owners wing their finances when they should be spending time upfront on budgeting and forecasting. Drawing up a budget and forecasting your cash flow for the month or year isn’t voodoo or fortune telling — it is making an educated estimate about your future cash position using real financial data.

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