Gary Mcgaghey’s Approaches to Help Business Leaders Accomplish Cash Excellence
In this article, the author discusses how the key issue in business is executing your cash flow and specifically mentions that it is important to manage cash flow effectively. The author uses a short story to demonstrate how Gary McGaghey, the CEO of London Loves Business, developed the business, and by doing so, he demonstrates that achieving cash excellence is possible.
Gary McGaghey set up the business and then described how it has been managed since. He emphasizes how his business has grown and achieved this through cash excellence. The author gives a detailed account of Gary’s advice throughout the article and makes some great recommendations at the end. One particular recommendation is that new businesses should seek an advisor who can help manage cash flow. The reader can learn a lot of great information about achieving cash excellence through the article.
More business insights and advice from Gary McGaghey on Medium
To ensure cash flow is managed effectively, businesses need to take a holistic approach where cash flow is managed across the business through an easily accessible portal. There needs to be a clear account of who is responsible and accountable for managing cash flow, which must be reinforced at all levels.
Perhaps the most important factor in creating the right environment for managing cash flow is how the leadership team interacts with the wider business. The message must be consistent that protecting cash flow is a strategic imperative at the heart of all business decisions. This is something that needs to be reinforced at all levels. The leadership team must have the tools and resources to do this effectively.
An example of a robust tool for managing cash flow is a budgeting tool that can calculate your cash flow for the coming months using a template to guide you. Other budgeting tools are available that are suitable for managing accounting and cash flow, making it easier for businesses to forecast and manage their annual operations. One of the best ways to manage your cash flow is to set up a monthly budget and review any changes in between. When there are changes, you can adjust your budget.