Solutions to Improve Cash Flow for Small Business Pryor OK
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.
Washington Mutual Finance(918) 825-2535
20 N Vann St
Sun Loan Company(580) 332-3633
300 E Main St
Banner Finance Co(580) 326-5700
109 S Broadway St
Superior Finance(405) 842-8820
4130 NW Expressway St
Oklahoma City, OK
Oklahoma City, OK
Cash Loan Co(580) 226-7740
8 B St NW
Vega Finance Company(918) 825-3054
28 S Adair St
American General Financial Services(405) 372-6111
1120 N Duck St
Community Loans Inc(405) 282-4525
123 N Division St
Western Shamrock Finance(580) 581-7235
1708 NW Cache Rd
First Fidelity(918) 456-4498
171 W 4th 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...