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Think about it: If you could accomplish more work with the staff you have, you could focus on bringing more revenue in! One of the most frequently overlooked ways to get to a positive cash flow is to improve productivity. Implement systems that improve productivity. Positive cash flow is far easier to achieve if your expenses are lower or paid out slower. You might even be able to band together with other local companies to take advantage of bulk rates or delivery charges. You might be able to leverage your value to your vendor to obtain better quantity discounts. You may have vendors who'd happily offer 30-day terms at no additional cost. I'm always surprised at how many business owners don't think to negotiate more advantageous terms or pricing from the people they buy from. Revenue is only part of the cash flow equation. Periodic new product introductions or seasonal promotions can build that buffer. Building up that rainy day account or simply keeping a bigger buffer in your operating account can be a lifesaver. Positive cash flow depends in part on your ability to meet unexpected expenses. I've learned that little spikes in sales can be enormously helpful in generating funds for my rainy day account or to finance special projects that intrigue me. Offer premium or bundled services.Īnother way to make your best clients even better is to offer them a premium product.Ĭonsider bundling something that offers them added convenience or value. Increasing per-client spend can help boost your positive cash flow.

If your industry is competitive and you're concerned about losing clients because of the increase, consider establishing new pricing for new clients and keeping old clients at the original level.Īlternatively, you could test out a price increase on just a few products or for just a few existing clients. It may seem counterintuitive, but one of the best ways to keep a positive cash flow is to bring in more money.

I've had great success in offering a modest discount for clients who can pay on the spot. 2. Consider a discount for immediate payment.įor those of us who invoice for services or products, we're used to sending bills and waiting for the checks to trickle in. Not only will a deposit ensure that your client isn't simply shopping you for price, but it'll make it easier to buy supplies or dedicate time to their job.īringing in money early in the project helps keep your cash flowing in. Whether you're a restaurant with a catering business or a graphic designer, it's great to land big projects with big paydays.īut when your work is spread out over weeks or months, it can be hard to continue paying your bills, especially if you have to defer other projects to finish your biggie.Ī solution? Charge a deposit and establish milestones. Get a deposit and establish milestones for long-term projects. If you're having trouble keeping your head above water in the cash department, or if you simply want to improve an already-rosy picture, read on for practical strategies for positive cash flow.

Cashflow ideas