Steady cash flow is the fuel that powers your business, but when you’re busy doing a million things at once it can easily slip to the bottom of the priority pile. Here are some tips to keep the cash flowing while you’re growing:
- Invoice quickly – good debtor management is crucial, so send invoices quickly, ensure your payment terms are clearly outlined and offer discounts for prompt payment.
- Make it easy – whether you offer mobile, online, credit card or modern POS payment options, make it simple for customers to pay you.
- Take advantage of technology – ditch the paper and take advantage of cloud accounting.
- Be one step ahead – use cash flow forecasting to outline your expected income and costs.
If cash flow is king, forecasting is queen – and making informed estimates doesn’t have to be confusing. Give us a call to chat through your objectives and we’ll help you develop a valuable, detailed and easy to digest profit and cash flow plan so you can confidently stay on track as you grow.