The 6 Principles of Financial Success Here are the six principles that will help entrepreneurs plan for the future:
| " One of the basic things you must learn is to put aside funds for a rainy day ..." |
- Look after your personal liquidity: Make sure you have sufficient personal working capital outside the business in case the economy turns bad.
- Manage your information: Make sure you have all the information available about your business financial situation at your fingertips, so you can delegate or set different levels of authority, as needed.
- Look after your staff: Always plan for your employees' future needs.
- Create a reserve in your business: When times are good don't spend the excess cash, put it into reserve so there will be funds for a 'rainy day'....
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