Solutions to Improve Cash Flow for Small Business Pineville LA
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.
Automotive Finance Center(317) 815-9645
13085 Hamilton Crossing Bl
Rfc Capital(614) 229-7979
130 E Chestnut St
Washington Consumer Discount Co(724) 225-9600
176 W Chestnut St
Professional Housing Center(904) 772-0505
9089 103rd St
American General Financial Services(773) 522-3800
4013 W 26th St
First National Bank of Atmore(251) 368-3148
111 S Main St
Auto Master(479) 756-9300
2209 S Thompson St
Worth Finance Corporation(512) 398-2393
207 E Market St
Hancock Bank(318) 442-9052
4716 Jackson Street Ext
Republic Finance(601) 544-0222
1607A Hardy St
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...