Money clichés are a dime a dozen, however, some of those financial catchphrases can truly be applied to your real life and pay off in the long run. One such saying is especially true for business owners. The saying that “cash is king” legitimately represents the importance of liquidity for any business of any size. Cash is needed for everything involved to successfully run your business. There are many reasons a business can fail, but one of the leading factors is running out of cash. A safety net is imperative to successfully persist through common events like a significant decline in sales, a mainstay customer not paying your invoice, or even being able to maintain seasonality. Every business’s safety net will be different and dependent on the volatility of the business or industry, therefore determining how much cash your business needs. While liquidity is never a one-size-fits-all solution, all businesses must consider the following key elements: Proper forecastin ...