“Cash flow” can feel like four-letter words to small business owners. Whether they’ve got a steady stream or a lazy river, there are some things entrepreneurs must do in order to ensure Chaos Inc. doesn’t drain them.
Stressing out over cash flow leads to chaotic management, self-doubt, and saying yes to just about anything.
So take a gander at my 4 must-dos for small business cash flow—even if you’re presently backstroking through coins like Scrooge McDuck.
You can’t have the cash without the flow.
For a continual cash flow you must provide consistent effort, much like a waterwheel. By putting balanced and stable energy into each aspect of your business, you’ll avoid those panic attacks about covering monthly bills.
Speaking of monthly bills—take advantage of them! Paying on time is wise, but paying too early is wasteful. Billing terms are set for a reason and I give you permission to make each day work in your favor!
I do not give you permission to offer the same for your customers. This means no long-term credit and no trading. Period.
I’ve really enjoyed seeing how innovative all you entrepreneurs are! Share some tips below so your fellow small business owners can shower in the cash flow, too!
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