Over the years, between my banking and consulting career, I’ve helped many businesses become more profitable. In this series, we’re talking about five steps to move from struggling to thriving in business.
The second step is to Raise Cash. Struggling businesses are always cash starved. Many businesses have unproductive or underproductive assets.
Let me share two ways to raise cash. First, many have underutilized equipment or inventory or accounts receivable that can be converted to cash. Second, begin slashing unnecessary expenses.
In Exodus 4:2 God said to Moses, “What is that in your hand?” And he said, “A staff.”
God used an unproductive asset of Moses to become a productive tool that stunned Pharaoh. What do you own that God can use to provide much-needed cash for your business?
