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Even profitable businesses can go broke if they do not effectively manage their cashflow during the recession. The key to surviving the recession is strategic cashflow management that takes into account the new economic conditions and adjusts cashflow activities accordingly. Cashflow represents one of the major concerns of Australian...
As the old saying goes, 'cashflow is king' and this is for good reason. It really doesn't matter how much business you write up, how many tenders you submit or how busy you are, if no cash rolls in, your business will soon wither away and die. Monitoring cashflow should be one of the ...
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In an ideal world marketers could give a customer all the information they need to make a purchase and those customers would put their hand up and say, "Yes, I want to buy. How do I pay?" Great thought but in reality, it doesn't always happen that way.
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Naturally, the sooner customers pay, the more cash you'll have on hand to pay your expenses so it makes sense to spend some time developing systems to get paid sooner. The cash conversion period of any business is the amount of time ...
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The easiest way to increase your average sale is to increase your prices, yet this is an area where many business owners and managers have challenges. They fear that if they increase their prices their customers will leave in droves.
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There are three critical parts of your business:
* Cash flow
* Annual Revenue, and
* Profits
Without cash flow your business can't survive.
Equally, without profits your business can't survive,
but a lot of businesses try to make no or limited
profits to stop from paying more tax.
The Cash Growth Calculator has been developed and included here so you can quickly calculate your business' positive or negative cash flow position. It is important to know if your business is in a cash flow negative positive as this dramatically impacts your business ability to grow and fund new sales.
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To support you and your business in growing your revenue, profits and positive cashflow you can get access to my monthly e-zine. There you will find strategies, hints and tips you can apply to your personal life and your business.
