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9 ways to improve cashflow in your business! July 11, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, Leadership, Mastermind Group.
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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;

Implement the following 9 ideas to improve the cashflow within your business;

1. Use cashflow sales checklists.

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.

2. Use cashflow payment checklists

. 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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