Businesses that may be feeling the pinch concerning their income might start by finding ways to cut expenditure. While this is a useful method, the truth may be that a chokepoint exists within the business’s cash flow. Investigating the company’s cash flow is likely to reveal a lot of information that the owner may already know. However, amidst this clutter may be a clue as to why the business is struggling.
Cash flow passes through different areas, and it may be difficult to pinpoint where the problem is. To this end, 15 members of Forbes Business Council share some of the areas in a business’s operations that cash flow might be most affected, leading to considerable problems for the organization.
Cash In Vs Cash Out
Steve Durbin, Managing Director of the ISF, and Forbes Business Council member, shares his thoughts on strategies for addressing cash flow issues.
Look at cash in vs. cash out—if you’re spending before you’re earning, you need to take a good hard look at your cash management and dig deep into how you can rebalance your commitments. How well you are able to manage your liquidity should be at the top of your to-do list. Access to ready cash when you need it is essential.
About Steve Durbin
Steve Durbin is the Managing Director of the Information Security Forum (ISF). His main areas of focus include strategy, information technology, cyber security and the emerging security threat landscape across both the corporate and personal environments. He is a frequent speaker and commentator on technology and security issues.
Steve has served as a Digital 50 advisory committee member in the United States, a body established to improve the talent pool for Fortune 500 boards around cyber security and information governance and he has been ranked as one of the top 10 individuals shaping the way that organizations and leaders approach information security careers. He has also recently been featured on the top 20 most influential list of leaders whose companies have a vision that shapes the conceptual landscape of their respective industries.
Steve is a Chartered Marketer, a Fellow of the Chartered Institute of Marketing and a visiting lecturer at Henley Business School where he speaks on the role of the Board in Cybersecurity.