Book provides fast information to controlling money circulate – Day by day Enterprise
Craig Alexander Rattray: “Most people don’t understand cash flow.”
Growth strategist Craig Alexander Rattray offers companies timely advice on how to survive by controlling their cash flow.
Mr. Rattray, who has worked with a number of fast growing companies in Scotland, has written a short, easy-to-read book in collaboration with Canadian accounting expert Jeff Borschow.
Cash flow control for business owners aims to provide owners with everything they need to know to ensure they keep track of the deposits and withdrawals from their businesses.
Within a few days of its launch, it rose to number 1 in Amazon’s hot new releases in Management Accounting.
“The biggest problem entrepreneurs face is cash,” said Rattray, CEO of Excolo33 in Glasgow. “Whether they’re growing or having problems or just running around, it’s always cash that is a problem.
“Most people don’t understand cash flow and are afraid to ask because they feel they may not know about the things they should know.
“After looking at what keeps business owners awake at night, we decided the focus had to be on cash. Given that we are in the pandemic and people are unable to operate and generate money, this is going to be a problem that people have had for a very long time.
“This is a book every business owner should have on their meeting table. You don’t have to keep track of everything yourself, but you should be able to ask your finance team’s questions, “Are you doing this?” “Why don’t we do this?” and something like that.
“A company can go bankrupt even if it is profitable. You can still show that you have a profitable business but you don’t have cash to pay the bills.
“Statistics show that 80% of small businesses fail within the first five years. We want to reverse this trend and give every company a chance to fight. “
“If it can help even one business owner, then it’s worth it.”
Interview: Craig Alexander Rattray
Craig Alexander Rattray writes a column for Daily Business every two weeks
Check out our exclusive regular cash flow tips from Craig’s book