While I’ve run 22 days of Mogul, one thing that popped up in my mind today would be the idea of cash flow.
I’ve always having problems with cash flow, and this is something that is badly misunderstood when it comes to the larger context of my financial ability.
I’m not a jobless person pretending to be a entrepreneur/feelancer, which is what my family perceives me to be. I do have work and people wanting me to do stuff for them , but I realised today that my weakness is managing cash flow, and always clinging onto potential customers who promise to bring me on board their projects and yet keep on delaying.
And I have been willingly accepting these delays as I have always seen the value of patience, loyalty and commitment in business. It seems that I am wrong now, and my way forward now is either to be more pushy with my customers or to cut my losses.
If I were to sum up anything that I have learnt in terms of financial management over the past 2 years, it would be managing cash flow. Simple concept, but it took me a while to understand it in the context of my life.
Anyway, I’m looking forward to things turning around this year.
One of my actions tomorrow is to give myself a week to confirm that there is business coming in until the end of the month. That needs I need to do a lot of follow-ups with clients and partners.
I’m tired of people wasting my time. I don’t care now if it’s Christmas or New Year - if they aren’t serious about business relationships then I should just move on.
Worse comes to worse, I will go back into the job market.