You have enough to worry about without facing the possibility that one of your employees could be ripping off your business. And sadly, that happens way to often to way too many small business owners.
You’ll be humming along and all of a sudden a discovery is made that a trusted employee has been stealing from your business for a long time. Typically this is the person who has responsiblity for handling incoming receipts and paying bills. They might start out small and then the problem grows until they are eventually discovered. But by that time they’ve already stolen tons of hard earned cash from your business.
This type of theft happens to a lot of small businesses who trusted someone they shouldn’t have. And typically there are no controls in place to minimize opportunities. In my new article over at OPEN Forum, I identify for you six actions you must take to protect your cash or lose your business. In a nut shell, the six items are:
1. Hire properly
2. Spread the wealth (so to speak!)
3. Check and balance
4. Open communication
5. Take a break
6. Model integrity
Hop on over and read the article to find out all the details. You deserve to reap the benefits of your hard work and effort. Don’t let someone steal it from you.
What do you think? Do you have a suggestion for preventing cash flow theft in your business? Please leave a comment.
P.S. If you need cash flow help, sign up to get my FREE cash flow tips delivered directly to your email box. Just click here and fill out a simple form to get your free cash flow tips.
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