This is the second post in a series on the six most common cash flow challenges. In this post I address the challenge of solving a cash flow problem with new customers.
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At a high level there are only two ways to fix a cash flow problem - bring more money into your business […]
No matter your political persuasion, it's hard to disagree the economy isn't pumping along the way most business leader's wish.
Things could be tougher, but many companies are feeling the slowdown. In many markets, money is in short supply, purchase decisions are delayed, upgrades are put on hold, and prospective and existing customers increasing espouse the […]
The first step in fixing a cash flow problem is correctly diagnosing what’s causing the pain. Once you know the underlying cause, a solution can be put into action and a long term problem can be avoided.
You may need to do the same things in the near term to boost cash this month […]
It amazes me I don’t receive more coupons or gift certificates when receiving goods and services I’ve purchased. It’s the perfect time to offer an add-on, upgrade, or cross-sell to a new product. Stuffing a few offers in the envelope alongside your invoice can result in considerable money to your business. And […]
In an earlier post I mention time to cash several times and time to revenue others. The reason is because the two are related, but not the same.
Revenue is greatly based on accounting policy. When revenue can be recognized is a critical element of finance. Sales people enjoy it too […]
There are few things more critical to bootstrapping a business than managing your cash.
The worse thing a bootstrapper can do is run an organization that digs a hole deeper each month through increased expenses and decreased revenue. Cash flow neutral is a minimum requirement. Sounds obvious. Yet I've witnessed more than a […]