How well you manage your cash flow is vital to the long-term health of your business. Effective cash management is more than just "money in the bank."

One question I pose to small business owners: "Do you have a six-month cash flow projection?" If not, you may have a difficult time determining how successful your business will be during this COVID-19 pandemic. A projection helps you maintain the relationships you have with loyal customers. It prevents the many problems resulting from a lack of cash.