morris the remodeler rolling meadows beyond painting and remodeling round lake heights beach condo remodel wadsworth kitchen facelifts budget riverwoods manufactured additions mchenry .. Chicago Drug testing

Top Ten Tips for Improving Your Cash Flow

Cash is king-so they say. If you work for yourself or someone else, you need to be aware of ways to improve the cash flow. Budgeting and collecting are not glamorous but they are both key to having a successful business. Working in a successful business is much more fun than working for a struggling one!

1. Stick to your budget. (If you don't have one, make one now.) The budget is part of a business plan. You want to know exactly how much to spend on each large item you purchase and when you will have the cash to do it. Your cash flow projection coupled with your forecast will give you the proper timing for making purchases. The items you have budgeted for should also be part of the business plan.

2. Bill your clients regularly. Many business owners are so busy selling to new clients that they forget to invoice the clients they have already worked with. Put the task of billing your clients on your calendar and then stick to that schedule.

3. Get a retainer for your services before you begin the work. If you are going to be working with a client over a period of time, you will want to request some money up front before you begin to deliver the service.

4. Give a discount for early payment. You will be able to collect the money more quickly if you offer a discount for prompt payment.

5. Accept a credit card for payment. Although you have to pay the credit card company for this service, having the convenience of a credit card allows the client to pay immediately. Collection is now the problem of the credit card company.

6. Use your own credit card to finance purchases but do it cautiously. If the interest rate is low and you can pay the credit card company back relatively quickly, credit cards are often a good way to even out your cash flow.

7. Establish a line of credit with a bank. This is relatively easy to do so long as you have good credit and it gives you a cushion of cash when things are tight. Sometimes the bank will offer a really good rate to encourage you to become their customer for other banking services.

8. Put the cash that you have on hand in an interest bearing account. No reason to have cash sitting in an account that doesn't accrue much interest. As cash grows consider money market accounts, CDs and savings accounts.

9. Pay your outstanding bills judiciously. Notice which vendors are willing to wait for payment and which will charge you interest if you are late. Schedule payment to maximize the cash in your account.

10. Consider getting an expert to watch your cash flow. Have someone (financial advisor, accountant, bookkeeper) available to run financial reports each month so you know exactly where you stand in your business.

Alvah Parker is a Business and Career Coach as well as publisher of Parker's Points, an email tip list and Road to Success, an ezine. Parker's Value Program? enables her clients to find their own way to work that is more fulfilling and profitable. Her clients are managers, business owners, sole practioners, attorneys and people in transition. Alvah is found on the web at http://www.asparker.com. She may also be reached at 781-598-0388.

In The News:

10-Point Checklist for High Visibility in Google

Google is the pre-eminent search engine (SE) with no close... Read More

Top Ten Listening Skills for Speakers

Good Speakers need good listening skills to become Great CommunicatorsSpeakers... Read More

Plan Your Success In Seven Ways

Many businesses lose money yearly because they don't think creatively... Read More

Business Profitability - 10 Ways To Boost

10 Ways to Boost your ProfitabilitySo many business owners work... Read More

The 10 Benefits of Cross Cultural Training

Cross cultural differences can and do impede upon communication and... Read More

How To Move Your Business Online in 7 Steps

So you have set up your company, fairly established and... Read More

5 Things You Must Do Well When Buying a Business to Not Get Burned

Are you not sure what Business to buy? Need to... Read More

The Lazy Person Secrets To Overnight Wealth And Fame

There are so many simple, yet really sure-fire ways of... Read More

The Hidden Power Of Understanding: A Secret To Building Massive Momentum In Your Business

You're busy with your business today, aren't you?You're pushing your... Read More

7 Ways To Get One-way Links To Your Site

One way links will help you gain better rankings in... Read More

Top 7 Reasons You Should Back Up Your Data Online!

How much is your data worth to you? In this... Read More

Ten Top Performance Management Tips

Talk to Your People Often By building a great... Read More

Managing Your Major Sales - 7 Steps That Could Change The Way You Pursue Business

Ever lost a sale you thought was in the bag?... Read More

11 Things Small Business Owners Can Learn From Michael Dell

1. Think Big ? In college, Michael Dell said he... Read More

Ten Ways to Manage a Rapidly Growing Business

While some new business owners face the issue of not... Read More

Start Your Own Website in 10 Easy Steps

If you're a beginner, starting a website doesn't have to... Read More

Business Attire: 10 Tips to Perfect Your Look

Being appropriately dressed is essential in making good impressions in... Read More

Are You a Project Manager Or a Project Mangler?

Which one are you? An effective IT project manager, able... Read More

10 Incredibly important business basics EVERYONE needs to know BEFORE they start a business!

In my career, I have had a total of 3... Read More

Increase Business Profits - Ten Ways

How do you increase business profits? Answer the following questions... Read More

10 Tips for Effective Proofreading

Proofreading may not be terribly fun, but it's one of... Read More

7 Reasons You ARE Your Own Best Product, or Lessons From the 2004 Presidential Election

The 2004 election is over--at least in the minds of... Read More

7 Keys to Running a Successful Business

Although dentistry may appear to be different than other types... Read More

The 10 Biggest Mistakes People Make Managing Organisational Performance

mistake #1: rely just on financial statementsProfit and loss, revenue... Read More

7 Reasons You Want Referral Business and How to Get Them

Studies have proven that there is one reason why people... Read More

led lights wholesalers commercial street lights Pete's produce ..
led lights wholesalers commercial street lights Pete's produce ..