Get a better handle on your cash

Here is an article that I wrote that was published in the latest issue of the WHFA Retailer.

We’ve all heard the saying “Cash is King”. That is very true. The level of liquidity that an organization can maintain determines the ability of that organization to operate each day and to succeed in the future. High liquidity allows organizations to reinvest in themselves to boost efficiency and sales. This reinvestment is the catalyst for expansion which generates even greater cash flow. On the flip side, low liquidity forces companies into cut- backs, tightening of operations and an eventual downward spiral.

Recently some business leaders asked me for advice on figuring cash flow with respect to actual versus money in the bank. They also wanted some specifics on using software and spreadsheets to assist in getting a better handle on their cash flow. With this in mind, I recommend four prime actions:

• Reconcile the bank account

• Generate a Statement of Cash Flow

• Forecast future cash levels

• Track key cash and liquidity metrics

Full Article: Getting a better handle on cash

We ♥ Cartier, Version 2.0: An Updated LOVE

Tinkering with an icon is tricky business: sometimes it works (VW's rounder, cuter, enormously popular reissued Beetle, for example) and sometimes it falls flat (New Coke, anyone?). So when we heard that Cartier was launching more jewelry based on its famous 1970 LOVE bracelet (above, left), we held our breath. Now, having seen the pieces unveiled, the verdict is in–many of the new designs are charming and easy to wear (though we still prefer the original), and there seems to be something for everyone. So one, two, three...and exhale.

The reason we prefer the original has more to do with symbolism than anything else: there's something deeply romantic about fixing a bracelet on one's wrist (using a Cartier screwdriver, of course) and never removing it. We're also fans of yellow gold and think the LOVE bracelet looks its best in that metal. These days, however, many people want white metals: hence the new collection's earrings, necklaces, bracelets and rings in white or yellow gold (and black ceramic), with diamonds or colored stones. Our favorite is a white gold bracelet (above, right) with blue and pink sapphires, purple spinels, amethysts and aquamarines. It's built like the original, but brought up-to-date for 2010. If only all revamped classics could be as good.

Photograph by Vincent Wulveryck © Cartier 2010