Chris Bjorklund: Hello, I’m Chris Bjorklund for the Business Resource Center. Today, I’m talking to accounting and financial consultant Philip Campbell. He is the author of the book “Never Run Out of Cash: The Ten Cash Flow Rules You Can’t Afford to Ignore.” Philip, when an entrepreneur is trying to grow a company, he or she can get super focused on getting new customers, making sure they take care of those customers, and generally they zero in on the selling and operations side of the business. Why is it so important that they also make sure that they have the accounting and financial side of their business under control?
One of the best ways to really understand financial results and what’s possible in the way of improvement in your business is to look at what drives results. What are the relatively small number of key drivers of your financial success? And a key driver is not necessarily a financial measure.
Making more and more money in your business is what financial success is all about. That’s not greed. That’s just the reality of business. You have to be constantly focused on improving profitability, improving cash flow, and increasing the value of your business.
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