Being pro-active is the key to increased cash flow!

Start with your invoice system

Do you bill monthly? Depending on your sales volume, you might consider more frequent billing. Perhaps weekly or bimonthly billing would be a better fit.

Vision Casting and Forecasting

Set up a meeting with your financial advisor or your CFO to project sales and growth for the coming year. Together, forecast what it will take to maintain, grow and thrive. Will you need an increase in staff? Will you require new equipment? Map a plan with realistic outcomes.

Target Your Perfect Client

Who is the perfect client for your business? What would attract them to you? Create an ideal client portfolio to better equip your sales team so they can target new clients who will make the most impact for your business.

Carefully Weigh Incentives

Freebies and free trials are a great way to snag customers. But the best customer is a repeat customer. Will the incentives you’re offering help you gain a faithful following?

Some people look for freebies and deals. They move from one deal to the next until they’ve exhausted all the free services they can find. Those customers aren’t usually repeaters. For this reason, carefully weigh the cost of giving away your products or services. Sometimes, less is more.

Consider Your Credit Terms

Re-visit your credit terms on a regular basis to be sure you’re not encouraging your customers to pay slowly. Is “net 30” best for you or would “net 15” be a better fit for your industry? Read more about Payment Terms in our article: Payment Terms.

Small tweaks to your personal system and strategies can make a big difference in your cash flow!