CHAPTER 6
Cash Is King
Your Working Capital Model
JOHNNY, OF LEMONADE FAME, has a favorite uncle, Ted. Uncle Ted, a native of Wichita, Kansas, has owned and operated Ted’s Barber Shop for almost twenty-five years. In that time, the demographic profile of his clients has barely changed. The majority are men in their fifties and sixties with a few younger men, usually the sons of Ted’s clients or businessmen passing through town. Ted’s clients don’t ask for anything fancy: just a trim and a shave. Once in a while, a non-Wichita native will ask to have his gray hair colored.
Fortunately for Ted, it takes very little cash to run his business. He doesn’t ...
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