Cash is King, but More Cash is even Better
By Garry Bartecki You have heard me say “CASH IS KING” probably 50 times if you have been reading my columns for any length of time. And that statement is true even more so during these confusing times. A simple example we can use spelling out how cash is generated follows:
- Bill for your products and services.
- Collect your billing dollars outstanding.
- Pay for your materials and services related to job costs including payroll costs.
- Pay internal payroll.
- Pay occupancy costs.
- Pay operating costs.
- Pay interest cost.
- Pay note payments due.
- Pay any taxes due.
- Last but not least, PAY YOURSELF.