How To Get Out Of A Financial Mess (Part 1) – Defensive Strategy πŸ‘Œ

There are two approaches that I would recommend to get out of a financial mess.

The first is a protective one.

Come back on what you’re spending now. You can’t start a company that is in a financial mess. Cash flow is more important than sales. And if you are going to thrive, you need to have plenty of cash flow flowing from your pockets.

Here are some things to cut back on that you should

  1. Smoking-Just cut back on a few sticks if you can’t stop,
  2. Alcohol will drain your funds more easily than a running tap.
  3. Night outs – Spend some nights at home dreaming about making more money.
  4. Gambling-If you intend to gamble, gambling in a corporation is safer
  5. Vacation and Country Clubs-without a few memberships, you would not die
  6. Food-Eat good and you can think clearer also
  7. Laziness – The greatest thing that can hold you back!

Don’t buy something that constitutes a liability, most significant of all.

No matter what they are worth in the future, a liability is something that takes money out of your wallet. Think in cash-flow terms. What can I invest in today that, tomorrow, will give me funds?

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πŸ‘ Filipino Virtual Assistant / Social Media Marketing Consultant πŸ‘ I help professionals, entrepreneurs, small business owners, startup & growing businesses build & maintain a strong brand & business presence on social media (Facebook, Instagram, Twitter, LinkedIn, & Pinterest) using stories, visuals, and marketing.

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