Cash is King! And Queen!
In the early 1980’s, as a young businessman, I had one of those times that is forever etched in my memory. I had invited my pastor, Pastor John Jacobs, for breakfast as I wanted his opinion regarding going in business rather than being a preacher and in particular, starting a moving and storage business. As it came time to order, I said that I wasn’t hungry, but in all honesty, I didn’t have enough money to pay for both his breakfast and mine. This was awkward and it caused me to lack confidence. Not having available cash could cause you to be timid when you need to be bold.
In just a few years from this time, I developed a friendship with Bob Harrison Ministries and in his teachings he suggested I stuff 2-$100 bills in an inner fold of my billfold. It is amazing the level of confidence this gave me. Having available cash can make a big difference in your confidence.
Cash in a business is like blood in your body, if you have a leak you better fix it pretty quickly or you could die. But when you have available cash, it is amazing the opportunities that can come your way.
Having cash can give you an advantage. Not having cash can put you at a disadvantage.
For 17 years, I owned a moving and storage company and for many weeks I struggled with having the cash flow to make payroll. A quote regarding cash flow that I have repeated many times is, “You know you are the boss, when you dread payday”. We paid our workers and drivers every other Friday and on many weeks this payroll would be around $50,000. Many times at the beginning of payroll week, I only had $1,000 in my bank account and it was a big task making sure I collected money owed me so I could make payroll. You can reduce pressures and conserve energy if you can manage your cash, well.
We were honored for Bob Harrison to speak at a business dedication in 2014 when we completed a 10,000 sq. ft. building expansion. Bob is known as Dr. Increase and he is always encouraging us to think outside the box when it comes to finances and life.
My wife and I recently attend a week long event with about 250 Christian business people (Bob Harrison Increase Event) in Hawaii. It was interesting to hear some successful Christian business leaders share their view of a recession. One said, “wow, I don’t want to miss out on a good recession”. To interpret this, he was saying, “if you have cash when others don’t you have a great opportunity to increase your personal net worth”.
Similar pressures face business people in other countries. Would you be willing to share your successes and failures to encourage them? When you are in a position to travel, join us on a www.BusinessMissionTrip.org .
I encourage you to share some of the times you have experienced a cash shortage and how it affected your thoughts and actions.