Sun Tzu the ancient Chines warlord said words to the effect of: “Win the battle at home so you can win the war.”
Business is a war waged relentlessly against your competitors, fraudsters, slow paying customers and economic conditions. Make no mistake, failing to understand these concepts, leaves your business exposed to failure. As many a seasoned business professional can advise, there are many ways of going broke.
Your business may become insolvent for a number of reasons outside of your power of influence. However there are factors over which you do have control. These factors include, creating the appropriate operating strategies, supplying essential operational resources and cultivating a great team of people.
Managing these factors properly provides you with an opportunity to win the war against those who would rob you of your business assets.