THE FLOOD GATES &
THAT CASH FLOWING!
to improve your cash flow now!
Increase your sales! This one seems obvious. It is EXTREMELY
important. But, increasing sales all
by itself is often times not enough.
Business/executive coaching for you.
Sales coaching for you or your sales force.
Upgrade your marketing plan.
Decrease your expenses. Cutting costs has an immediate
impact on your bottom line. If you increase sales by $10K, it may
generate a $2K increase to the bottom line (depending on your profit
margin). But, if you cut $10K in expenses, it creates a $10K
increase to the bottom line.
Require payment in advance. Depending on your industry
you can get away with this. In fact, if you are the
undisputed champ in your industry, you may be able to run your
business very effectively this way and your customers will grow
comfortable with it, because you're worth it to them, and they
really have no other options since you have no real competition (if
you are the undisputed
champ and you have "monopolized" your market).
Track customer payment times. Some customers pay
faster than others. Do more work for them and possibly less or no
work for the ones that pay very slow.
Offer discounts or other incentives to customers to
pay faster and/or penalties for customers that pay late.
Sell your accounts receivables to companies that buy
them. There are people that will be happy to give you money now for
money later. Of course they’ll take a percentage, but it may be
well worth it for you.
Pre-sell R&D versions (beta versions) of your new
product or service. Some people love to participate in “cutting-edge”
ideas and would love to save money by paying in advance for some
Increase your price! Yes increasing your price can be
risky, but often times it will work to your benefit. If you lose 2
or 3 customers, but the increased margins on your remaining
customers covers that loss or more, then you are left in a situation
where you can keep growing and have a larger buffer of positive cash
Your Cash Flow:
There may be more than one way to do this, but the simplest is to
track you income and how fast your getting paid as well as your
expenses and how fast you are paying out (including payroll and
everything). Then compare the two. Keep looking for ways to extend
your pay out and decrease payment times to you. The closer you can
get them to being the same number, the better.
business line of credit. Most banks will easily give this to
people with a decent credit score and 2 years in business.
instead of buy. For equipment instead of buying
you can lease and save the up-front cost. Plus there
are tremendous tax advantages to leasing. You can
even sell equipment you already own and lease it
your debts. You can refinance any of the loans
you already have for better interest rates saving
you money each month . If you own the building you
use, you can refinance it and bring cash out to be
put to better use. If your building is going to
appreciate, it will do so no matter how much you owe
Help With Your Cash Flow &
Your Business A Super Success! Click
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