9 ways to improve cashflow in your business! July 11, 2008
Posted by businessgrowthmastery in Entrepreneurial, Financial Management, Leadership, Mastermind Group.Tags: business growth, Business Growth; thriving in a downturn; small business, Financial Management, improving your cashflow, managing your cashflow
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Of all the business tips I’m asked about, one of the most frequest realtes to how to improve cashflow. As you will realise, cash is king – without it, you’re dead! So it is vital that you implement a structured approach to improving the cash position within your business.
Incidentally, my response to the question is to point clients in the direction of the “9 steps to improving cashflow” – see below;
For sales people, get them to ask every single customer to make another add-on purchase with the one they’ve already made. A great way to do this is to have a shopping checklist of what the customer could buy.
. For your administration team. Have a checklist of your customers and when their payments are due. Set up reminder e-mails/SMSs/and faxes for each customer to ensure their payment is received on time…. Read more
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You know, I have to tell you, I really enjoy this blog and the insight from everyone who participates. I find it to be refreshing and very informative. I wish there were more blogs like it. Anyway, I felt it was about time I posted, I’ve spent most of my time here just lurking and reading, but today for some reason I just felt compelled to say this.