Increase Just 12 Areas in Your Business by a Meager 1.4% and Your Profits Will DOUBLE!
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The last 2 posts covered the first four of the killer mistakes you could make that will not only make you lose your fish, but possibly your entire company. Today we’re going to explore the fifth killer mistake:
Up Cash Creek Without a Paddle
Even when business is good, there’s still a chance of running out of cash flow. You must always be prepared for a slow in sales or a surge in expenses. One of the keys to balancing your cash flow is by requiring your clients to pay on time. This may seem like a nightmare, but is absolutely essential to a successful business.
Here are some tips to speed up the payment process:
You also need to make sure your cash flow is protected. You can do this by:
These are all great ways to protect the cash flow of your business and prepare for fish transitions and slow sales. These last few lessons are all about finding and catching your big fish clients. Your clients are essential to your success and you need to take the time to work through each of these steps carefully and efficiently for the utmost success.
If you need help with any step of the process of catching your fish or subsequent big fish clients, please reach out to me for assistance.