Solutions to Improve Cash Flow for Small Business Lahaina HI
Maintaining good small business cash flow during the recession can be challenging, but these creative cash flow solutions should give you some ideas for improving your business's finances.
Easy Money Emg(808) 667-1924
Family Financial Center the(808) 935-6811
427 Kilauea Ave
Maui Finance Co(808) 244-9143
140 N Market St Ste 201
American General Financial Services of Hawaii Inc(808) 671-5664
94-1040 Waipio Uka St Ste 7
American General Financial Services of Hawaii Inc(808) 326-2626
75-5737 Kuakini Hwy
Kailua Kona, HI
Kailua Kona, HI
Beneficial Hawaii Inc(808) 841-3671
1199 Dillingham Blvd Spc C103
Creative Capital & Mortgage(808) 246-1787
3501 Rice St Ste 202
American General Financial Services of Hawaii Inc(808) 845-2693
555 N King St Ste A
Beneficial Hawaii Inc(808) 533-4202
826 Fort Street Mall
Pacific Venture Capital Ltd(808) 521-6502
222 S Vineyard Blvd Ph 1
Solutions to Improve Cash Flow for Small Business
Creative Business Cash Flow Solutions
How can an entrepreneur create reliable cash flow for their business in today's tough economy? Customers are not spending, banks are not lending, and credit markets are still partially frozen, even for big businesses. Cash flow management for a successful small business in these challenging conditions has to be both creative and flexible.
Here are some basic tips to improve small business cash flow in today's market:
1 Increase PricesOne of the biggest mistakes small businesses make is charging too little for goods and services. Customers who are attracted to low-ball pricing are also customers who are most likely to pay late or not al all. While it may seem counterintuitive to raise prices during a recession, the truth is that perceived value can have a dramatic effect on business cash flow. Prices set too low tend to attract customers who are slow to pay and who end up dickering for even lower prices, causing sore feeling on both sides. By contrast, studies show that the more an item or service costs, the greater the perceived value of the goods or services and the greater the demand. Small businesses offer a level of personal attention, craftsmanship, or expertise that the big guys can't, and small business customers do expect to have to pay more for this.
The ultimate goal is not to offer the lowest price but rather to build the most loyal high-end customer base. Pricing should re...