Fix This Next by Mike Michalowicz

Author:Mike Michalowicz [Michalowicz, Mike]
Language: eng
Format: epub, mobi
Publisher: Penguin Publishing Group
Published: 2020-04-28T00:00:00+00:00

OMEN: Cash Reserves

Let’s say you are in any business that comes to mind. This is a choose your own adventure. Remember those books? We’ll simply call your business ABC Corp. You know the golden cash reserves rule, right? You need to have minimally three months of operating expense cash reserves—but you don’t. Vital Need identified? Check! It is OMEN time.

Objective: Accumulate three months of operating expenses saved in cash reserves. You have a multimillion-dollar business and you need $100,000 a month for operating expenses, which means you’ll need $300,000 cash stored in a VAULT account.* You are doing pretty well, and have $150,000 currently saved, but need to double it.

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