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Uwais Asmal's 2-Minute Taste-Test On Cash Flow Management

Before you get stuck into the recipe, test your skills in this supa quick 10-step assessment below. Then, try again at the end to see your improvement. 

Click below to begin the assessment.

Start

Question 1 of 10

What does Uwais like about working with startups?

A

Startups don’t have cash flow problems.

B

In startups, you can see the impact you’re making.

C

You can charge more working with startups.

Question 2 of 10

What is a common mistake entrepreneurs make when they have cash in the bank?

A

They spend it all at once.

B

They don’t check regularly how much cash they have available for salaries.

C

They lose sight of upcoming VAT and tax payments.

Question 3 of 10

What can cause a cash flow problem in your business?

A

When you’ve made a lot of sales but you haven’t received the payments yet.

B

Using your overdraft to pay suppliers.

C

Hiring a lot of people at once.

Question 4 of 10

How can keeping a constant eye on your cash flow help your business?

A

It helps you make more sales.

B

It helps you make better decisions going forward.

C

It helps you flash your cash to your friends.

Question 5 of 10

What is an example of being reactive with your cash flow?

A

When you plan your future expenses.

B

When having cash in the bank makes you smile.

C

When you receive a payment and then plan how you spend it.

Question 6 of 10

Where can a good accountant NOT help you to save money?

A

Tax.

B

Salaries.

C

Profit margins.

Question 7 of 10

Should you raise your prices every year?

A

Yes, because inflation goes up every year.

B

No, because you need to maintain competitive prices.

C

No, because you’ll lose your existing clients.

Question 8 of 10

What is a good way to build a buffer in your business?

A

Pay your suppliers late.

B

Push up your prices.

C

Put away a portion of your income from each sale.

Question 9 of 10

What is a great tool to manage your cash flow?

A

Cloud accounting software like Xero.

B

Microsoft Excel.

C

Your mobile banking app.

Question 10 of 10

What should you do as your business grows?

A

Leave the admin for later.

B

Outsource the admin tasks or hire someone to do it.

C

Ensure you keep doing the admin.

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