Angela Bradbury from Chime Advisors, one of this year’s Entrepreneur Academe cohort, tells us Why Cash Isn’t Really King
“Cash is king.” This phrase seems to be one of those things people say without really thinking about what it means or whether they truly believe it. I’m told as an entrepreneur that you need cash to cover your bills and payroll before you’re able to realise revenue. Investors are told to keep a certain proportion of funds in cash for easy access in case of crisis. Both of those concepts clearly have merit. But why do we say cash is king? It sounds more like cash is a resource to be deployed by the king when necessary. “Cash is an army”, perhaps.
So cash is essential, but it’s not enough. The really important thing is to know how to prioritise it, and what to do with it. In other words, knowledge is…
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