Biz Tip #7 – Have a Cash Cushion

In a world where 1 out of 10 small businesses make it to 5 years, lets take a look at 10 tips for Small Businesses.  I have had a close-up view of numerous business successes and failures — including a few of my own.

7. Have a cash cushion. The old adage that “it takes twice as long and twice as much money” and that translates into having excess cash.  Successful business owners don’t have a rainy day fund, they have a rainy ‘year’ fund.  This may also be key in a case where your receivables are months out.

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