Failure in business is unavoidable when the cash finally runs out. You close the doors and pack it in.
The failure was apparent for some time ,maybe years and is frequently the result of poor management skills.
Let’s get real.
Mahan Khalsa uses that term in his book of the same name. For me let’s get real refers to the capabilities a business must poses to survive. See diagram below and click to enlarge it.
I repeat. The business to survive must be strong in all these areas.
Today I want to address financial management. Below are problems that indicate inadequate financial management.
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Learn how to deal with your challenges by downloading diagnostics of survival and see where the solutions lie.