For contractors, one of the biggest -- and most common -- mistakes you can make is to place other business goals ahead of your company's cash flow.

While it's important to spend time on building your brand and generating sales leads, it's downright vital to quickly cultivate a steady stream of what accountants call "free cash flow" -- that is, the amount of cash coming into your company over and above all of your expenses. After all, if you don't have money, you won’t be around long enough to worry about those other things.

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