If your company has a long sales cycle, long lead times or pays employees before client payment – you’re likely focused on cashflow.
Having worked with many clients under these conditions, here are some tips to increase your cashflow and relieve cashflow stress.
- Create pricing structures that incent early payments.
- Require deposits and payments based on milestones.
- Increase the frequency of invoicing and shift the timing of payroll.
- Or add products and services that create immediate cashflow.
YOUR CHALLENGE: Start by understanding your cash position. Layout the timing of your expenses, invoicing,m receivables, and payroll. Then look for the opportunities.
If you would like further information or you have any questions about this blog, you can email me at email@example.com or call 847-739-3079.
Please visit www.workingonthebusiness.com to register for our complimentary workshop, 6 Steps to a Great Business, and let’s work together to help your business grow.