Putting Your Cash Flow Projection to Work
An accurate cash flow projection is key to the health and direction of a farm or livestock business. In a recent article for Tri-State Livestock News, Blain Carey offers advice about cash flow projections.
Keep your cash flow projection front-and-center throughout the year. You should consult it regularly, compare your projections to your actual income and expenses, and use it as a sort of goal list for your year. If you require reminders to return to your cash flow projection, establish concrete intervals at which to review and update.
Sometimes farm managers dread reviewing their cash flow projection because they discover that their actual revenue is less than what they projected. However, even if your situation is less than ideal, knowledge is better than ignorance. Tracking your numbers and keeping your projections up-to-date will help you make decisions today and better manage your business going forward.
So don’t be afraid! Dig in to your 2018 cash flow projection and use it to its greatest extent. For more details, read the article in full at Tri-State Livestock News.