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How to Address Cash Flow Issues

Tips to help business owners recover from a financial shortfall

August 30, 2019

Despite following sound business practices to meet their fiscal goals, cleaning business owners may occasionally find their cash flow is inconsistent. Experiencing a financial shortfall is not the time to panic. Forbes offers several tips from economic experts to help businesses owners recover from cash flow issues:

  1. Identify your top business priorities and the costs associated with them, as well as any variable costs that can be cut.
  2. Deeply cut expenses to give you time to find revenue.
  3. Analyze your day cycles to understand how you can convert working capital to cash.
  4. Make sure you’re charging customers what your services are worth.
  5. Prioritize customer satisfaction when spending money.
  6. Maximize your revenue stream on opportunities with the highest return on investment.
  7. Revamp your invoicing processes and review your supplier contracts to find ways to reduce expenses.
  8. Request expediated payment from your account receivables.
  9. Borrow money to tide you over.

Maximizing sales is an obvious way to gain additional revenue for your business. Attend Maximizing Sales Through Proper Management on Monday, November 18, from 1:15 p.m. to 2:00 p.m. at ISSA Show North America 2019 to learn five crucial skills business manages need to lead their team to peak performance and increase their number of clients.

 

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