Q: How do entrepreneurs slow the flow of cash out of their businesses?
A: We are in a recessionary economy. As an entrepreneur, have you tightened your spending? Have you cut over-spending? Customers feel the pain much later than you. Now is the time to act. Don’t wait any longer. Be sure your expenses are in line with revenue. Don’t just pay bills with business as normal. In a recession, a vigilant look at expenses can keep cash flowing longer & can help you weather the recession. Don’t build up inventory. Sell off old inventory. Limit travel to client-focused trips. Don’t build up office supplies. That counts as money spent and just sitting on the shelves, not helping you make a sale.