business success tips

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Get cash flowing ASAP

Business Success Tips

Running a small business that reaches success can at times be difficult, but not impossible.
Get cash flowing ASAP

Cash flow is the lifeblood of business, and is absolutely essential to feed bottom-line profits. So you need to find ways to jump start cash flow immediately.How do you do that? In a professional services business, you can ask for deposits on work up-front, with balances due on delivery.You can do the same in retail, especially on high-ticket or specialty item and position it as an added value and a way to insure delivery by a specific date.You can also add value to generic items by creating private labels, and develop continuity programs where customers pay an up-front monthly fee to insure delivery or availability of items they will buy on a repeat basis. Of course, the key is to make sure there is little or no gap between when you pay for labor, stock inventory and when you actually get paid. Ideally, youll find ways to get money up front, and your cash gap will never be an issue.

Plan ahead for financing
Think hard about whether insurance is necessary
Have a plan
Create the right legal structure
Stay Focused
Offer what people want to buy
Take charge of your finances
Make sure you get paid
Focus on sales and marketing manically
Get Organized
More ...

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