Ask any startup entrepreneur what is the most important thing they should spend their time on in business and you’ll get a lot of different answers.
Some will say product development. Product leadership and a great product is essential, they feel.
Others say that a business is nothing without its people. Building a strong team they feel is the most important role of a startup founder.
Still others say that managing expenses is critical. They believe that a business that doesn’t manage its cash flow and expense level is doomed to fail.
These are all important, but all of these pale in comparison to one other skill that I believe is most important of all. It is the one thing that forms the foundation for everything else you do in business … I partnered with Microsoft 365 to share this with you and more on The Growth Center: One Skill Every Business Owner Needs to Manage Cash Flow.
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It is all about having a system. This will keep you on track on your income and expenses.
True story! You run out of cash and it’s all over, regardless of how well the business is doing.