By Winmark Business Solutions
Bootstrapping is a buzzword that basically means generating needed funds by deftly managing your cash inflows and outflows. Improving cash flow should be a daily task, like housekeeping.
Monitoring, forecasting, and analyzing cash flows is essential to liquidity and profitability, even for the Fortune 500 crowd. A basic list of areas of concentration would include:
A little frugality and sensible use of available resources will pay big dividends in the long run. The old cliche “watch the pennies and the dollars will take care of themselves” is the bootstrapper’s fight song.
Winmark Business Solutions (WBS) is a free Web site for small businesses and entrepreneurs containing over 6,000 pages of business-critical information and downloadable tools at www.WBSonline.com. WBS is a division of Winmark Corporation, a multi-brand franchisor with nearly 900 franchise locations in North America. With over 25 years working with small businesses, WBS draws upon years of experience to bring important small business articles, information, tools, forms, checklists, calculators and downloadable forms to the small business owner to help their business grow. WBS contains over 6000 pages of business-critical information all available at www.WBSonline.com.