Cash is important in every business.  Cash is EVERYTHING for bootstrapped SME’s. I doubt anyone cares about the huge profit projected for the end of the year if you can’t make payroll next week.  Out of Cash = Out of Business (OOC = OOB) 

OOC = OOB is a lesson I learnt from a bloke called ‘Poli’.  Poli is an accounting lecturer who tells it how it is.  No cash = no business.  It doesn’t get much simpler than that.

Since that heady day way back in 2010(!) when Poli taught me this gem, I’ve had a daily cash report for The Physio Co at my finger tips every morning.  Not once a week or once a month, every single day.  

It’s so straight forward that a trusty TPC bookkeeper gets to work, checks the bank balances and plots them on a very simple spreadsheet.  Where do we store the report, in the cloud of course!  I can access it from almost anywhere.

A daily cash report combined with cashflow projections helps me grow our business fast with much less concern about ever being OOB.  If you are a CEO or responsible for business performance, I reckon you should monitor your cash daily.