By Forbes Finance Council, Forbes featuring By JC Abusaid, CEO/President

For company leaders, managing cash flow and working capital is crucial to ensure that their teams have the necessary resources to drive business growth. Effective management of financial resources enables leaders to meet operational expenses, invest in strategic initiatives and seize growth opportunities.

Below, Forbes Finance Council members share key strategies company leaders can employ to effectively manage their cash flow and working capital. From maintaining a robust cash flow forecasting system and optimizing inventory management to implementing efficient accounts receivable and payable practices, these strategies empower leaders to maintain financial stability and allocate resources strategically.

1. Focus On Sales And Net Profit

Business growth does not occur without cash flow. The number one thing your company needs to focus on consistently is sales and net profit, because that’s ultimately what will allow you to have resources for business growth.

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Then, find and hire someone who is a CFO, who knows how to properly budget and make smart decisions around where to deploy business capital.

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– Ryan Carroll, Wealth Assistants

18. Consider Investing Cash To Earn More

Weigh liquidity rather than earning potential. There is no one size fits all solution, but with higher rates, your excess cash can earn more. Consider buying treasuries, as they require monitoring maturities; very short-term bond funds or exchange-traded funds as they have duration risk; and money market funds, which are the most practical.

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You give up a little yield but have immediate liquidity and no value fluctuation. – John AbusaidHalbert Hargrove