What Is A Good Cash Flow For A Small Business The Instant Cash Flow Solution for Every Business Problem

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The Instant Cash Flow Solution for Every Business Problem

This article covers one thing you can do every day that will solve the vast majority, if not all, of your business problems. At the same time, it can dramatically increase your cash flow, which should definitely be one of your goals. Once you achieve and keep a river of money flowing into your business, 99% of your problems will be over.

Now, I say that like it’s easy – like you can just snap your fingers or wave a magic wand, and all your problems will disappear. It’s not Enough it’s easy, but to be honest, it mostly is. More money coming into your business gives you more choices, especially about things you wouldn’t otherwise be able to do without that money. To lighten your load, you simply need to start bringing in more money.

The worst thing in the world for your business is to be struggling financially, to be in a position where you can’t pay your bills, or where most of your time and energy is spent just trying to stay afloat. The more you struggle, the more time you spend thinking and worrying about supplies — and the last thing you need is to go to the mailbox and find another bill. Every expense is like a big cinder block weighing you down, forcing your focus downward and inward to work in your job and not on it.

So how do you fix your cash flow situation? The most effective strategy is to spend more focused energy and time on a small number of things that you know can increase your sales and profits. Now, we each have the same number of hours in a day and a week, so ‘time management’ is a misnomer; you have to learn to manage yourself and how to divide your time. If your business is in trouble, you spend a lot of time putting out fires, doing energy-consuming, time-consuming things. To really succeed, you have to fight for focus and commit to doing things that take the time to innovate in your business and think about all the ways you can increase sales and profits.

I often say that I belong to the 5 a.m. club — which simply means that I get up very early every day, at least an hour before everyone else, and spend my time focusing on business strategy before the phones start ringing and people start bothering me. You should do the same, spending this significant time focusing your energy on things to create more cash flow in your business. You know the bills will be there no matter what; What can you do to get around them? How much money do you have to make before you can wake up on the first of the month and think, “Well, all the bills are paid; anything above this point is profit”? This is especially necessary when times are tough. You are got find time to focus, invest your energy in things that bring more money.

Think of ways you can get more business from your existing customers. When you’re really struggling, that’s a great time to make them an outrageous offer. You don’t have to tell them your business is failing; just do something crazy that makes the phones ring and the cash registers ring.

The process starts with getting to know your customers intimately, so you can make them a killer offer they can’t refuse. These people already know you, like you, and trust you, which makes them much more likely to do business with you. So give them a great deal, knowing what they want based on the type of benefits they’re looking for, and they’ll help you. They are the lifeblood of your business. You just have to spend time thinking about what they want.

One of the worst things you can do is get stuck in the negativity that occurs when things go badly. Don’t focus on the bad. The bills will still be there even if you put them off for a day, so stop worrying about them and spend some time focusing on activities that can bring you money. Keep that money flowing. Even if it doesn’t solve all your problems, it might give you some freedom to not think about them for a while, so you can enjoy the success you experience when your cash flow is high. Maybe you can pay an accountant to take care of your money problems later.

Al Davis, former owner of the Oakland Raiders, used to say, “Just win, baby.” When it comes to business, the equivalent is simply to make money flow. How you do this depends on your business, and no one knows that business as well as you – or at least, they better not!

A few years ago, a good friend of my mentor was telling him that business has been going very badly lately. He works with publishers, especially small presses and self-publishers, and that business is going through a lot of changes. He decided he’d better start calling his previous customers to see if he could help them. So he started making phone calls — and lo and behold, he had one of his best sales days ever.

The lesson here is to stop waiting for people to walk in the door, or write, or call, or email you. Get in touch with them yourself. Returning to existing clients with whom you have good results is a great way to drive business. Another way to generate business is to offer significant discounts, even on things that cost you so much that you’re reluctant to lose money on them. Well, you need the money, so lower the price rather than let them gather dust or fail. Offer big discounts — 50%, 60% or 70%. Simply go to your clients, especially those you haven’t heard from in a while, and tell them you just wanted to check in and see how they’re doing. Suggest that special order. Be proactive. That’s how the money flows.

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