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3. Look into the future—When clients and projects are rolling, most entrepreneurs believed new business can materialize whenever things temporarily slowed down. Those times are gone. During the next three months, analyze what money is coming in; specifically from where and when.
Compare this to the new cash outflows you assessed in the step above. If things are tight, that’s fine. But, if more is going out than coming in, trim more and find additional income. Do this exercise each month, always looking at least three months out.
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- Thomas E. Houck
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