Is Your Business Giving You the Cash Flow You Desire?

Have you started to make the income in your business you desire?  Are you actually making any sales at all?  I know how frustrating it can be to try to get a business moving on the Internet.   A lot of online business advisers will lead you to believe that it is very easy to be successful working on the Internet.  While some people can find fast success, most businesses take hard work and a decent period of time to make real money.

This is similar to what it takes to get a business started offline.  I worked with the Small Business Administration (SBA) for many years helping entrepreneurs to get their business going.  The major document required for business start-up was the business plan.  Not only did I help entrepreneurs prepare their plan through the SBA but I also taught business students how to create these real-life documents.  So I really understand how important it is to create a business plan to forecast the potential success of a business.

But after years of working with others and with my own companies I realize that there are a few steps that need to be taken even before writing the business plan to be sure you have the best potential for real success in business.  Doing these steps will also give you the best potential to generate cash flow as quickly as possible in the business.

I’ll fill you in on some of those first steps in the upcoming teleseminar scheduled for this Tuesday, May 21, at 10 a.m. PST.  We’ll only have 30 minutes at this time so be sure to get on the line on time.

Register for the call on the FREE Teleseminar page.  If you can’t make, I’ll send you the link to the recording afterwards and you’ll have a week to listen in.  After that, the recording will be in the NACWIB members area.

 

 

Do You Have Good Cash Flow?

Cash flow is what all business people want.  That’s a fact.  If you are operating a business that is not making money you will not be in business for long.  Unfortunately, getting the cash to flow in your business may not be happening as much as you want. That means you have a problem that needs to be analyzed and adjusted as quickly as possible.

The question of why this is happening (the lack of cash flow that is) doesn’t have just one answer. It would take looking at your particular business operation to provide specific suggestions.  But the most obvious reason would be a lack of adequate sales to bring in enough money for you to experience a profit.  Or you might actually be making sales yet can’t seem to pay your bills and realize a profit.  This could be from not earning enough to cover expenses even though money is coming into the business.

What if you can’t seem to make any sales or not enough to make a difference?  Questions you might need to ask are, are you marketing to the right target market?   Are you using the right pricing strategies?  Are your products and services up to par? These are some of the questions that will assist you to analyze problems with cash flow in the business.

Find out more about how to generate cash flow in your business.  Join the 30 Minute Quick Tip Teleseminar on Tuesday, May 21, from 10 to 10:30 a.m. PST.  I’ll be talking more about cash flow in business.  Click HERE to get more information and to register.

 

 

 

Quick Tips Teleseminar on Cash Flow!

FREE CWIB 30-Minute Power Business Builder Teleseminar

 

“Quick Tips to Get the

Cash Flowing in Your Business”

Don’t miss this up to the minute informational Teleseminar.  If you need to know ways to get a cash infusion in your business for the summer, register today!

Date/Time:  Tuesday, May 21, from 10 – 10:30 PST (1-2 EST).

In this 30 minute power  This 30 minute call I will give you some fast ways to get cash flowing in your business this summer.   NACWIB members will also get a special report and audio in the Member’s area on “How to Build Your Business With Very Little Cash.”  This is a topic of interest to all of us! Join NACWIB to get the full report.

Register to Join the Teleseminar.  If you can’t make it you can listen to the recording later.  The recording will stay up for two weeks or until the next Quick Tips Teleseminar.

Click HERE to register.

Accounts Receivable Software: What Is It and Do You Need It?

Owe nothing to anyone except to love one another; for he who loves his neighbor has fulfilled the law.”                 Romans 13:8

Working with sales means facing the question about Accounts Receivables.  Christian business women usually know that running a business that offers payment terms to customers or doesn’t require customers to pay up front, means you are going to need some what to keep track of your accounts receivables.  Having an adequate accounts receivable software is important.  While it’s possible to keep track of just a handful of customers’ terms, by the time you get to more than half a dozen customers, tracking all their payments and terms will get difficult.

Accounts receivable software might seem basic when you first look at it, but it actually does a lot more than just track unpaid invoices. What exactly does AR software do and do you need it? Let’s take a look.

Tracking Who Owes You Money

The most basic and fundamental function of accounts receivables software is of course, tracking who owes you money. You can track the debt owed by each customer, track unpaid invoices, and track when you expect to get paid.

Tracking Creditworthiness

A credit background is something that’s very difficult to track by hand. If you run a credit-based business, chances are at some point your customers may ask for more credit.  They might ask for a longer payment term or for a bigger line of credit.  When that happens, you need to know how good they’ve been with paying their bills in the past in order to determine whether or not to grant credit.

Just like banks use your FICO score to determine whether or not to extend credit to you, you likewise should use your customers’ past payment behavior to determine if they should get more credit. Questions you need to ask include:

  • Have they been late in the past?
  • Do they always repay their balance on time?
  • Do you have to chase them down to get paid?

All this should go into making your decision; and AR software can track and report all this for you.

Tracking Expected Cashflow

Calculating how much money is going to come in can be very complex if you have dozens of accounts receivables to keep track of.  That’s especially true if you have different customers on different terms as well as partial payment agreements.  AR software can make calculating your cashflow on a month-to-month or even a day-to-day basis much easier.

Tracking Store Terms, Customer Orders, Contact Information and More

Your AR software can also store all kinds of other important information. You can use it to store all your customer orders, as well as records of whether or not you’ve delivered on those orders. You can store details about your agreements and payment terms with your customer.

You can also store basic information like addresses, phone numbers, who to contact for what, and more.

As you can see, AR software isn’t just about tracking invoices.  Business women will get the best use of this software by using the entire system to manage not just accounts receivables,  but to manage cashflow, tracking credit and more. You want to be a good steward of your money and this is one business system to help you do that.