Bill Faster

A key factor in minimising cash flow problems is to ensure that you bill your clients as soon as you can, it’ll mean that you are more likely to receive the payment as oppose to batch invoicing.

Simplify your business

Identify products that are hard to sell and unprofitable, this can be done by using data to see which products are best selling and easiest to sell.

Visibility of your business

Increase your presence online, make yourself more aware of Search Engine Optimisation. By learning more about SEO it’ll increase your knowledge of techniques that can help your business to appear higher on google search results.

Learn to Delegate

Learn what you do that brings in revenue and delegate anything else you do. Allow staff be trained to a standard where they can do the jobs you don’t have time for which will free you up to focus more on the business and making it the best it can be.

Reward efficiencies

Ask your employees if they have ideas of more efficient approaches that could be taken to make their tasks both easier and accurate as oppose to sticking to one way which may not be working. These changes could be transitioning from a complex spreadsheet to a business dashboard which is automated and more user friendly.

Supplier Accounts

It’s important to keep on top of supplier payments, it’s advised to find out the balance between the holding payment as long as possible ensuring that the vendors payment terms are still respected. Despite them not being on your payroll it’s important to maintain a good relationship with them as they are likely to be of more help.

Promote your business with consistency

Ensure that you are consistent when promoting your business, this means that branding should be kept within the same theme. When composing letters, emails, letterheads and email signatures should be kept consistent with branding such as logos, telephone numbers etc. Always make sure that the information that is being provided is both consistent and relevant.