Ideas for Increasing and Managing Business Cash Flow

Facing up to cash flow demands is one heck of a chore. That chore however, is paramount to a small businesses success. As far as cash flow goes, the owner of the business cannot delegate this task to anyone- it has to be them. So, let’s see what kinds of things can be done to improve cash flow.I have compiled this list from a very great book that I suggest you check out, called “How to Get Rich” by Felix Dennis. In it, he gives you a full page of bullet points on things you can do to improve your cash flow, they are:

Keep payroll down to an absolute minimum. Overhead walks on two legs.
Never sign long-term agreements or take upmarket office space.
Never indulge in fancy office furniture, unless your particular business absolutely requires it (it being the demand to make such a great impression on your clients).
Never buy a business meal if the other side offers to. You can show off later.
Pay yourself just enough to eat.
Do not be shy to call customers who owe you money. It works.
In a city, walk everywhere you can. It’s healthy and it’s free.
Check all staff travel and entertainment claims with the eye of an eagle.
If you are going to be late paying a bill, call the vendors boss, give a date and stick to it.
Always meet payroll, even at the expense of starving yourself.
NEVER issue staff credit cards or company cell phones.
Don’t leave office equipment, computers, lights, etc on overnight. It’s just stupid.
A case of beautiful flowers in reception every week creates a better impression than $100,000 Italian furniture.
Get used to grovel. Groveling is an effective tool in a start up.
They want your business. Play one supplier off against another. Ruthlessly.
Only factor debt when necessary.
Keep your chin up. It could be worse. You could be work for them.