7 Proven Steps For Maintaining A Healthy Cash Flow In Your Business
It doesn’t matter how great your business is, how high your profit margins are, or whether investors are interested in supporting your business, your business simply won't survive if you’re unable to maintain a healthy cash flow.
A study by the financial services company U.S. Bank found that as many as 82% of small businesses fail due to poor cash-flow management. So, even if you’re brilliant at all other aspects of running your business, it’s essential you set aside regular time every week to proactively manage your company’s cash flow and avoid putting your business at risk.I imagine you too have had days or weeks when managing your cash flow caused you personal financial stress? The day, thirteen years ago, when as a new CEO I was told we wouldn’t be able to make payroll, still remains indelibly etched on my memory! Clawing in the money so that we could pay our staff was incredibly stressful. In this instance, a key member of staff hadn't issued invoices in a timely manner and followed our credit control procedures, and that's what caused the problem. But the incident made me realise I needed far better systems and accountability if this wasn't to happen again.
For many business owners, managing the financials can seem daunting. Isn’t that what you pay your accountant or CPA to do? Well actually no, it isn’t. S/he can provide you with plenty of helpful information about the performance of your business to date. A good accountant or bookkeeper can also prepare a cash flow forecast. But at the end of the day, s/he can’t manage your business for you.
Imagine, what it would be like not to experience financial stress, and better still to have total clarity about how to maintain a healthy cash flow?
That’s why I’ve created this brand new Masterclass, 7 Easy Steps To Cash Flow Success. Click HERE to get all the details.
[callout]Are you interested in improving the cash flow in your business? This is exactly what I'm offering in this FREE Masterclass. Click HERE to attend 7 Easy Steps To Cash Flow Success. In this Masterclass, I'll teach you the exact same strategies I used as a CEO to run a successful 7-figure business. [/callout]
If worrying about cash flow stops you from sleeping and you want to say goodbye to financial stress, this Masterclass will set you on the path to maintaining a healthy cash flow. During this Masterclass, you’ll discover:
- The 7 step blueprint that will have an immediate and positive impact on your cash flow.
- Three simple steps you can take right now to increase profits without spending a fortune on marketing. (Hint: This one tactic has increased my annual turnover by more than one third).
- The super simple formula that will ensure you price your products for profit.
- The key financial metrics you should watch like a hawk
- How you can eliminate financial stress, experienced by 45% of business owners, once and for all.
- Clarity on the next steps to you taking control of your cash flow.
Plus you’ll receive a workbook to help you to follow along. And a selection of my favourite tools for managing cash flow, including my price calculator. (Hint: this calculator will help you to ensure that you’re selling your products and services at a price that’s worth your while).
[callout]Do you want healthy cash flow in your business? This is exactly what I'll be teaching in this FREE Masterclass. Click HERE to attend 7 Easy Steps To Cash Flow Success. In this Masterclass, I'll teach you the exact same strategies I used as a CEO to run a successful 7-figure business. You can REGISTER HERE. [/callout]
I’m really looking forward to seeing you over in the Masterclass.
Explore These Additional Resources
- Business Strategy Made Simple
- 7 Actions To Take When Business Is Slow
- How To Improve Cash Flow In Your Business
Join The Conversation
Question: What’s your top tip for maintaining healthy cash flow in your business?
I help small business owners to scale and create a profitable business by providing business consultancy and business coaching services on either a 1:1 and group basis. I draw on my 8 years’ experience as a CEO to help the businesses I work with to transition from a 6 to 7 figure turnover.
Prior to becoming a business consultant and coach, I gained 25 years’ experience in business in senior management and leadership roles, including 8 years as a former CEO. This experience is backed up by training at Cranfield School of Management, the UK’s leading business school. With experience of leading and developing staff teams of up to 150 people across 7 sites, there’s very little I haven’t had to deal with or experienced during my career in business.
You can find out more about working with me HERE. Or alternatively email me on firstname.lastname@example.org to arrange an informal chat over coffee. There’s no hard sell. Just solid advice and a straightforward, honest assessment of whether 1:1 business coaching or business consultancy would be a good fit for your business, the results you can expect and how to get started.