Me too. Embarrassing, especially if you don’t have any cash in your wallet. You walk a long distance to get a gallon. Or rely on the kindness of a passerby who “feels” for your plight. Or worst of all you have to call your spouse to come get you and get you some gas.
Every thing you were doing comes to a halt. Your plans change. You end up late. Screws up everyone else too.
Same thing happens when you run out of cash in your business. Revenue is deceptive, profits are a bit better, but CASH is King.
While cash management isn’t exactly strategy, not having and not managing it well, undercuts your strategy(whether it is good or not), your execution (whether it is excellent or not) and people (whether you have the right ones or not).
So it’s important, right?
But it’s so mismanaged.
Make sure your tank stays full, so you can grow your business.