Five Steps From Struggling to Thriving in BusinessSýnishorn

Five Steps From Struggling To Thriving In Business - Part I

During my banking and consulting career, I have helped many struggling companies become profitable. With so many businesses folding recently and many more doing all they can to survive, this seems an important time for this plan.

In this series, I will highlight five steps that can help your business get financially stable and move towards thriving. 

The first step is to Know the Condition of Your Flocks.

You need to know the true market value of your assets, an accurate accounting of all debts and obligations, and understand your current cash flow, including your last month’s revenue and expenses.

Proverbs 27:23 teaches, “Know well the condition of your flocks, and pay attention to your herds.”

If you don’t have accurate financial information, do what needs to be done so that it is current and accurate. Without good financial information, your chances of survival are slim.