Bogdan Gecić, Managing Partner at Gecić Law, was quoted once again in Forbes, the leading global business publication, in an article titled “Are These Nine Cash Flow Mistakes Jeopardizing Your Company’s Future?”.
Bogdan was asked to join a panel of experts and share his perspective on the way new businesses need to look at their finances from the point of view of an eminent entrepreneur in the legal and professional services industry.
“Entrepreneurs do not take into account the stage in the life cycle of their product or service and then confuse profitability with cash flow. For instance, in the initial phase, cash outflows significantly outweigh the inflows, but businesses often fail to address this on time, blinded by the projected profitability of their product or service. In fact, a balanced cash flow is far more important in the short term, and this misunderstanding is probably one of the main reasons why many businesses fail in the early stages of development. So, it is a timing issue rather than a question of profit or loss,” Bogdan said.
The Forbes expert panel comprised members of the Young Entrepreneurs Council. The YEC is a global, invitation-only, US-based community of entrepreneurs and leaders under the age of 45, who have made a major impact in diverse industries and sectors. Members of the YEC include leaders behind some of the world’s most exciting startups and companies such as Airbnb, Reddit, Behance, Living Social and Justin.tv.
As a Harvard Graduate with a strong European foothold, Bogdan contributes to YEC as one of the select members of this elite organization from outside the US, offering a unique multidimensional perspective to this extraordinary community. At the same time, YEC offers a platform for transatlantic knowledge sharing and collaboration.
