A place for startup entrepreneurs to meet in Pune
For enterprises to grow, Trust and Credibility are essential. It is the foundation of business that creates the environment to thrive. Below are 7 simple and essential practices to build trust and credibility in your organization with internal and external stakeholders.
1. Pay your Employees, Vendors and Creditors on time.
2. Pay your installments on time.
3. Be compliant with respect to statutory payments.
4. Capital raised from the investor should be used for capital expenses ONLY, it shouldn't be used for working capital.
5. Timely payment of collections from the debtors passes on the right signals about credibility and seriousness.
6. Planned and timely bill payments.
7. Easy and all possible payment option to derived for clients
Cash is always considered as 'king' in the business community. Big business houses come to a closure just because they are unable to manage a healthy cash flow. Ultimately, it marks the difference between a successful business and a struggling one. Start-up units generally face severe problems of cash flow. It is essential to keep a constant eye on expenses as well as revenues and income of the enterprise. This can be done in-house if you have an experienced and qualified accountant or then you can outsource the accounting function to a virtual CFO.