Keep Your Ca$h Flow Flowing

Every business owner wants to avoid cash shortages, especially in a rough economy. In the following interview, management consultant and lecturer Dr. David J. McKinney offers practical advice on what jewelers should—and shouldn’t—do for a healthy cash flow. Dr. McKinney, what is cash flow? Is it profit? Cash flow is simply movement of money in and out of a business during any accounting period. A definition I like is: earnings before noncash expenses like depreciation and amortization. Profit is just the difference between assets and liabilities. Cash flow is also the best barometer of your business’s health and how it’s managed. A positive flow guarantees the value of your investment in your business, regardless of fluctuations in financial markets. How does a jeweler get good cash flow? With carefully planned strategies to enhan
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