Get in control of cashflow
It’s a well-worn phrase, but cashflow really is the lifeblood of your business.
When you bring in more money than you spend, you have extra cash to keep the business running and to invest in growth.
If your spending starts to outpace your earnings, you’ll quickly run out of cash, which might force you into debt, make it hard to pay your bills, and even lead to business failure.
That’s why it’s crucial to keep a close eye on your cash flow and manage it carefully.
Fast ways to improve your cashflow.
Managing cash flow means constantly keeping an eye on the money coming in and going out of your business. If you find yourself running low on cash, it might be because you’re not making enough sales, your customers are slow to pay, or you’re spending too much.
The best fix is to take action early and look at the whole picture to improve your cash situation.
Some key ways to boost your cash position include:
- Improve your sales and marketing – creating more sales and boosting income by networking, advertising and encourage referrals.
- Make it easy to get paid – using the latest payment tech options to speed up payment times, eg GoCardless, Stripe.
- Track and manage debts – chasing any late payments to reduce your aged debt.
- Manage spending effectively – and start to track, review and reduce your costs.
Talk to us about improving your cashflow
We can help you create a cash flow plan and budget to improve how your business runs and achieve better results.
Get in touch to improve your cashflow.
