The VirtualStudio.TV Blog

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  Cash Flow in a business: How to manage it and why it is so important

  1st August 2011 by Lorna Malone 3 comments

  “Cash Flow” are two small words that are vital to the success of any company be they a huge conglomerate or a one man band. Being a Financial Director I spend a lot of time looking through a wide range of different financial documents including Profit and Loss, Balance Sheets and Income Statements but the Cash Flow is by far the most important.
  
  Without cash your organisation will not be able to pay its creditors (no matter how small) and it will fail! I encourage everyone on the team at Virtual Studio to focus a lot of their attention on cash flow and as a result we have become almost obsessive about it. We all know the impact future work has on the business and we can predict with a high level of accuracy where the company will be financially in the future.

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  Why we need to bring back the real Bank Managers!

  6th June 2011 by Lorna Malone 5 comments

  I worked for one of the High Street Banks many years ago. Since then there have been huge changes in banking, and having spent more than 20 years running my own businesses, I feel very few have been positive! Back then we then had a Bank Manager who was in charge of a particular branch or in some cases in rural areas 2 or three branches. They were part of the community and knew their customers and their needs very well.
  
  Now when I ring the Bank who deals with our business, I am rarely connected to the same person twice. More often than not, I can’t speak to that person immediately but have to wait up to 24 hours for a response to my call. Then I have to go through the whole story again to the so called “Business Manager”. Not the best way of building up a relationship with your bank – hence I very rarely ring the Bank!

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