Business And All About Cash

It's about knowing your customers, understanding their present needs

, and developing the most ideal solution to their problem while gaining revenues along the way.

A business can be owned by one person, which is called sole proprietorship. It can also be between two or more people who will share on the losses and profits of the company based on their contribution. This is more known as partnership. Lastly, you have a corporation, which can be composed up to fifteen people. They are bound by articles of incorporation, gain stocks or shares in the company, and can obtain dividends.

Nevertheless, despite the many types of business ownerships available, functions don't seem to remain, though the processes involved may have changed. Here are some of the following:

Accounting

Human resources

Marketing and sales

Operations

Procurement

Strategic sourcing

Production

Customer service

Purchasing

Research and development

Information technology

Public Relations/Communications

Administration

Internal audit

All about Cash

An average businessperson may think less about stocks, bonds, and other portfolio investments and more of his cash. That's why if there's one thing that you should learn to focus on, it's how you should be able to obtain the cash that you need for liquidity and sustainability of your enterprise.

But why do you exactly need cash? There are three main reasons for that. I talked before about the importance of money. You need cash so you will be able to pay your expenses, especially immediate ones. You have to have some bills and coins with you when you travel from one office to another. You need it to purchase raw materials and pay off your employees.

Cash is also significant as it can be extremely helpful in times of emergencies. It's a vital part in contingency planning. There could be an employee that needs to get his salary in advance because his daughter got sick. You may have to take the first flight to your other branch to solve a very crucial problem. Or you may have completely forgotten to pay your electrical bills, and today is your due date.

Lastly, you may want to keep some cash either with you or in your bank for better opportunities. Handling a big amount of cash on hand is not advisable. A good example is when you need to buy a new and far better printer than what you're currently using right now. It can help your company become more productive, which, in turn, can increase your revenue.

by: Lawrence Perry

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