Today we are going to talk about money again. It is said that money speaks the language that everybody understands, and of course I know that the majority of entrepreneurs start enterprises to make money. Isn’t it? Well, even if your objective is a bit different let’s just proceed as the below issues I’m raising about chasing money also applies to you. I very well know that the carefully crafted vision and mission statements small and great enterprises worldwide have, all requires to be backed with profitability and money (I think cash flow is better to use).
Now, some entrepreneurs take this game of chasing money to a different level; to different approaches that sometimes become counterproductive. Of course it is absolutely good to chase money, but it matters how you do it in your enterprise! I believe some of you are beginning to ask yourself where am going with this article, or what am driving at. In a very basic way, I just want to share some principles about chasing money, principles arising from my observation of enterprises and how they manage this aspect of money. Let me say the following: –
I guess it’s time to stop for today. In conclusion, you can also choose to become very vain and run up and down the whole year chasing money yet doing very little regarding the key factors such as value creation, management, customer delight etc that matter in your enterprise. Get me right, am not saying you shouldn’t follow your debtors, or do without a credit management policy, or fail to market. All these activities might fall under ‘chasing money’ depending on your perspective.
The Wise Entrepreneur