Cash Flow Tips for Small Business: More Timely Advice For Your Business

Cash flow tips for small business come to us from successful business owners who know the value of optimizing their cash flow.  We’ve gotten several great responses and today’s is no different.

Carrie Tuttle of CT Consulting Group gives us her top cash flow tips for small business owners to learn how to manage cash flow and come out ahead:


  1. Send out your final bill on the day that the good or service is delivered.

  2. In your payment terms, list a few days when the bill is due, maybe 10 days at most.

  3. Better yet, when providing a service or custom product, request a percentage up-front to start the work.  This will guarantee that you get paid some of the total amount.

  4. Follow up regularly with late payments.


  1. Collect quickly and pay out slowly. As a small business, this should be your motto.

  2. This process will allow you to have more money in your accounts and can help you to optimize your business credit report.

  3. If your creditors and partners allow you longer payment terms, take advantage of this. Don’t pay out so slowly that it negatively impacts your credit, but take advantage of your wiggle room.

Alternate Revenue Streams

  1. Many of my clients want to provide excellent customer service to their client and business partners. Yes, you should do that, but not to the detriment of your business.

  2. Your time is valuable, so, while you are trying to be accommodating to your customers, make sure that this extra effort it is still contributing to the growth of your business.

  3. One client of mine is an expert in his field.  He is constantly getting calls from colleagues asking for advice or help on their cases, but they aren’t referring business to him.  Now he will be charging a consulting fee for the advice.  These extra services will now provide income to the business.

Get a Good Accountant

  1. It’s worthwhile to invest in a good accountant.  This will get your books in order and will show you where your cash flow could be managed better or provide you with tools, like a cash flow budget, so you can do it yourself.

  2. A cash flow budget will allow you to see how your cash flow ebbs and flows throughout the year. You’ll also understand your expenditures and how you can better manage them.

Cash is Still King!

  1. Provide discounts to incentivize customers to pay in cash.  This will help move your cash flow in the positive direction.

  2. You won’t have to fight with creditors of any kind.  You’ll have cash on hand in case you have any unexpected expenses.

Outsource Where Necessary

  1. Instead of hiring someone full-time, try part-time employees or freelancers who will help you save money as you are only paying for services that you need.

  2. Also consider outsourcing some of your business’s non-core functions like accounting, sales and marketing, and possibly human resources.

Thanks, Carrie, for the great advice!  If you’d like to contact Carrie directly, please see below:

Carrie Tuttle CT Consulting Group Phone: 917-477-5271

Don’t forget to check out our concise overview of top cash flow tips for small business!

And if you get stuck, don’t be afraid to hit the Panic Button.  It’s the only help desk for small businesses online.  No nonsense.  No kidding.

Don’t forget to watch our training videos.  Don’t know what a P&L is?  Don’t know how to prevent bankruptcy?  You can’t miss these videos, available to you 24/7.  Go to our Learn section to watch as often as you like.  Beyond finding the cash flow tips for small business, you’ll learn highly valuable tips you can’t afford NOT to watch!

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