“Great legacies do not occur by chance - they're well planned.”
- Donald Fletcher
Legacy Analytics Limited
4902 Tollview Dr.
Rolling Meadows, IL 60008
Cash Management and Control
Cash is a business's lifeblood. Managed well, it keeps a company healthy and strong. Managed poorly, it can bring the company to a screeching halt.
The United States Small Business Administration website reports that
“Poor cash management is the main reason for business failure and is probably the most frequent stumbling block for entrepreneurs. Understanding the basic concepts of cash flow will help them plan for the unforeseen eventualities that nearly every business faces.”
If a business owner hasn't considered cash management an important issue, then the business's short-term stability and long-term survival are likely being undermined.
Cash management may be the most important, most misunderstood and most often overlooked financial discipline. Business owners should be thinking about this issue from day one, but most don't, mainly because they’re preoccupied. This leaves them exposed and vulnerable to multiple cash flow dangers.
Legacy begins at the logical starting point for good cash flow management: a comprehensive projection. In helping ownership manage daily cash, our experts know how to develop both short-term (weekly, monthly) and long-term (annual, 3–5 year) forecasts. This develops the business’s necessary capital strategy. We also prepare and use historical cash flow statements to understand past patterns and correct any flaws so they do not resurface.
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