Cash is still the undisputed champion of a business
This post is part of a series celebrating SmartSign’s 15th Anniversary. In 15 posts, we reflect on lessons learned, good experiences, and company-wide changes that brought us to this milestone of success. You can view the entire series here.
SmartSign was birthed from custom technology, and our founders saw the opportunity to apply this technology to tags, mats, and parking permits. It simply made sense. But, part of the reason we were able to successfully enter those markets is the flexibility that comes from effectively managing cash flow.
Cash can be either a ladder or a pit—if you have it you can climb high, and if you don’t, you can get stuck in the mud. Bryan Bowers, CFO of SmartSign said, “The goal is to effectively manage your accounts so you don’t have too much [cash] laying around, but have enough to invest in opportunities coming your way. Or better yet, create future opportunities.”
One of SmartSign’s brands, MyAssetTag, created a great guide demonstrating the importance of cash-flow management. It also includes a variety of ways to improve your cash flow-management skills. You can find it here.