Solutions to Improve Cash Flow for Small Business Mayfield KY
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.
Personal Finance Co(270) 247-5008
834 Paris Rd
Global Mortgage Link Llc(270) 247-9876
American General Financial Services(606) 564-8888
543 N Shawnee Rd
Check 'n Go(270) 444-9334
3200 Park Ave
Check 'n Go(606) 343-0211
1477 E Highway 90 Byp Unit 3
Heights Finance Corp(270) 247-0691
1267 Paris Rd
Star Mortgage Loans Inc.(606) 836-7827
2412 Argillite Rd
201 Pauline Dr Ste B
Value Financial(502) 448-0750
4639 Dixie Hwy
Check 'n Go(859) 225-9393
393 Waller Ave Ste 12
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...