Cash flow tips for small business may be the most important tips your business receives. Cash flow is usually considered more important than even sales or profits. That’s why we’ve polled successful small business owners from across the nation.
Today’s tips come from a high-tech entrepreneur and small business owner: Kenneth Vogt, CEO of CroonerLabs.com. It’s a small business that provides automatic article distribution to thousands of well-read outlets all over the net.
Besides being an online marketing expert, Kenneth has some great cash flow tips for small business:
GET RECURRING REVENUE: If you can get someone paying every day, week, or month, cash flow is less likely to drop off. Longer than one month (quarterly, annually) tends to have more drop-offs, though.
GET A GOOD DEAL BY PAYING IN ADVANCE: You can get better deals buying supplies, raw materials, and even services in advance. As an inverse of #1, don’t commit yourself for too long, though, by trying to buy years’ worth in advance.
BUILD UP THAT CASH CUSHION: Being in a panic to pay a particular bill is time and thought consuming.
DO IT YOURSELF…FIRST: Don’t pay someone else to do anything until it is getting in your way for you to do it yourself.
NEGOTIATE LIKE AN OLD WORLD SHOPPER: Ask for discounts. Ask for terms. All they can do is say no and they will still do business with you at the original price.
Thank for the timely tips on cash flow, Kenneth! If you’d like to contact Kenneth directly, please see below:
Kenneth Vogt, CEO Crooner Labs 510-300-4250
More tips coming you way! Don’t miss the next installment of our cash flow tips from the experts! And be sure to check out our concise overview of 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.
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