Chapter 11

Managing a Business’s ­Money

Introduction

In the postlaunch stage, it’s very important for a business to manage its money prudently. Money is fuel—it’s the resource that allows your ­business to open its doors every day. Having adequate money on hand will help your business grow and prosper. Not having sufficient money on hand will do just the opposite. It will cripple your business and make it less likely that your business will grow and reach its financial potential.

Fortunately, there are techniques that help businesses manage their money carefully and shrewdly. It’s important that your business develops sound money management practices from the outset. Many businesses fail to reach their full potential simply because they do not ...

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