There are many reasons why small businesses experience sudden cash flow crunches. Identify the reason for your cash crisis and move quickly to solve the problem: External factors have caused a sudden drop in demand At times there will be things that happen locally or globally that impact on what customers buy which you have… Read More
It’s always beneficial to seek new customers. When new competitors enter the market and try to steal market share or old customers no longer need your business, it’s important to draw upon a fresh customer base. Here are five strategies to win clients. 1. Look for New Customers in Your Existing Market Chances are, there… Read More
Debt collection is a problem most businesses have to face. Recovering the money owed by your customers to your business is a challenge that requires a systematic approach and careful judgment. Effective debtor management is the best way to keep debt problems to a minimum. But despite all your best efforts, there will always be… Read More
In a new start-up, a cash surplus will give you breathing space if sales are not as high as you hoped, or expenses are higher than you thought. Surplus cash can also be used for planning an expansion project to increase your capacity, pay a large bill, or buy new equipment. The most obvious way… Read More
If you’re failing to meet your cash commitments each month and eating away into your capital reserves, then it’s time to make some serious decisions in your business. A business can survive for a short time without low sales or profits, but not without a positive cash balance. It’s cash which pays the bills and… Read More
The aim of all small business owners should be to have more money coming in than going out. From shortening your cash cycles to managing debt, there are several methods for getting on top of your cash flow. And once you’ve got it firmly in hand, you’ll experience greater freedom and opportunities to grow your… Read More
This template helps you to work out the date when your business will likely run out of cash. Download… Read More
Social media is a more potent force than ever before and one of the sites at the forefront of the social media revolution is Twitter. With millions of active users, Twitter is an extremely powerful marketing tool. The secret to Twitter success, of course, is growing and then holding a large follower base which can… Read More