While investigating methods for improving the financial side of running a business, Rural Lifestyle Dealer has come across a comprehensive checklist of ways to shore up your cash flow management. Rob Martin of Spark Business IQ has compiled such a checklist which we believe will be helpful to anyone looking to maintain a successful and lucrative business. We've listed the first three cash flow tips:

  • Create a Schedule for Regular Cash Flow Projections
The elements of a cash flow projection are cash on hand, current expenses, and your expectation of the upcoming inflow and outflow of revenue. This look ahead highlights upcoming mismatched revenues and expenses so that you can take steps to avoid them.
  • Maintain Your Sales Effort

Sustain a consistent sales effort by setting daily, weekly, monthly, or quarterly sales goals. Make them realistic, since success is motivating. Current customers are a good source of increased sales, so upsell and cross sell in addition to looking for new prospects.

  • Increase Prices

Even a small price hike can make a big difference in your cash flow. When prices are rising, be sure to remind customers of the value your company provides. You can let customers know that your prices are rising due to an increase in supplier costs.


Click the link here to access the full checklist.