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Spoiler alert - proactive client payment policies are the secret sauce to improving your cash flow

If that describes you, don’t worry, you’re not alone.

I don' think Im the only one who as a kid thought it would be great to earn a million dollars a year, to be a millionaire, and dreamed of what Id do with it.

Looking back now though the problem was that every dream was self-centered and me focused.  Cars, big boys toys, house, holidays and the like.  I never really gave any thought to what impact I could have on the lives of others.

If you’re in business then you have likely heard the saying, “Profit is important but cash is King”.

And, generally speaking, we agree that cash is often the most determining factor in the success or failure of a business.

It seems to be all the rage, and has been for a while, to offer interest free finance, particularly in retail. But there are, as always, pitfalls to be avoided.

What can a business can do to make sure it is profitable and successful?...Without doubt, using an annual process called the Three Way Budget.

In uncertain times or slowing sales, you need to move quickly to protect your bottom line.

Ignoring or delaying a decision to cut the fat from your business will significantly impact your business performance, cash flow and future survival.

For business owners, running a successful business is often challenging enough, but succeeding in business in the current tough times for many has become a real nightmare.

However, there is good news!

If youre in business, you should be aware of the changing nature of accounting software. Historically the most common business accounting software for small business was MYOB or Quicken. However the past few years has seen a seismic shift to Cloud accounting.

Enter Xero.

Sounds pretty easy doesn't it? Just save $15 a week.

If thats true, why aren't more people doing it, and getting the advantage in retirement?