The idea for this book arose from a desire to clear away the mystique of cash management, make you aware of it’s importance, especially as we live through a Global Credit Crunch, and provide you with the tools to better manage cash in your business.
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Cash is the lifeblood of any business and this book provides insight, guidance and steps to help you take a look under the skin of your business to reveal just how well the cash is pumping through your company’s arteries.
This book was written after investigating the Communications industry where a lack of proper cash management brought the demise of many a company. As I write we are in the grip of the Global Credit Crunch and it is the turn of the banks to declare their incompetence in handing your cash.
It may be that your Finance Director has asked you to reduce headcount to conserve cash, and you are considering your options. Stop. Put a value next to these questions:
How much did it cost to selectively recruit the best people?
How much did it cost to train our people?
How much will it cost to release them?
What direct message does this send out to our customers?
What leverage does it give to our competitors?
What does it do for company morale?
This book is aimed at helping you to find the Cash hidden within your business, stopping the need for a programme of corporate liposuction. Remember, 90% of people on crash diets end up putting the weight back on within a short period of time.
This book combined with the Internet enhanced content provides you with the tools to identify areas where you can generate more cash from existing turnover, improve the way your business handles cash, create competitive differentiation, attract additional funding and secure the longevity of your business.
Through the great depression Ford bucked the trend and grew through acquisition and expansion to emerge as a world leader in Car manufacture. In the last recession I was based in Singapore and what I saw was quite extraordinary while most countries were reducing infrastructure spend, Singapore accelerated theirs. Supply had outstripped demand; it was the best time to buy, so Singapore invested heavily to create an infrastructure that would see them emerge the downturn as a global powerhouse. The question that I have for you is “how does your company want to emerge from the global recession?” Does it just want to contract and survive or invest and emerge as a market leader?
This book will guide you to get cash in quicker, handling it better and leveraging its power. Helping you to perform keyhole surgery on your business before major surgery is required.