Book offers quick guide to controlling cash flow
Craig Alexander Rattray: ‘most people do not understand cash flow’
Growth strategist Craig Alexander Rattray is offering companies some timely advice on how to survive by controlling their cash flow.
Mr Rattray, who has worked with a number of fast-growth firms in Scotland, has penned a short easy-to-read book in partnership with Canadian accounting expert Jeff Borschow.
Mastering Cash Flow For Business Owners aims to provide owner managers with all they need to know to ensure they keep on top of cash coming in and out of their companies.
Within a few days of launching it shot up to number 1 in Amazon’s Hot New Releases in Management Accounting.
“The biggest problem business owners have is cash,” said Mr Rattray, CEO of Glasgow-based Excolo33. “Whether they are growing or if they are struggling, or just plodding along, it’s always cash that is a problem.
“Most people don’t understand cash flow and are afraid to ask as they think it might portray them as not being knowledgeable of things they should know about.
“Having looked at what keeps business owners awake at night, we decided the focus had to be on cash. Given where we are in the pandemic with people not being able to operate and generate cash, it is going to be a problem that people have for a very long time.
“This is a book which any business owner should have on their boardroom table. They don’t need to follow everything themselves but they should be able to then ask the questions of their finance team ‘Are you doing this?’ ‘Why are we not doing that?’ and such like.
“A business can become insolvent even if it’s profitable. You can still be showing that you have a profitable business but have no cash to pay the bills.
“Statistics show that 80% of small businesses fail within the first five years. We want to reverse that trend and give every business a fighting chance.”
“If it can help even one business owner then it will have been worth it.”
Craig Alexander Rattray writes a fortnightly column for Daily Business
Look out for our exclusive regular tips on cash flow from Craig’s book