Click here to get 15 IMPORTANT TIPS that will help you immediately achieve the success you envision. These tips will help you unlock some of the secrets to improved cash flow, better employees and quality planning and accountability. The sooner you get started, the sooner you will enjoy the results from these tips. Yes! I want the free tips!
Hidden costs, incorrect pricing, late payments, low sales, high fixed overhead, poor spending habits, lack of productivity, competition, and wishful thinking. These are among the numerous factors that can lead to the number one reason why businesses fail which is inconsistent or negative cash flow. What can be done to reduce or eliminate this problem? Click here for the FREE REPORT with 5 SOLID STEPS that YOU can take to minimize or eliminate negative cash flow! Bonus: With the FREE REPORT you will receive 10 MORE EFFECTIVE TIPS on how you can get ahead of the curve to prevent the adverse impact of employee problems as well as poor planning and accountability.
Too many. Too few. Not motivated. Incompetent. High turnover. Employee embezzlement. Poor attitudes. Can’t find the good ones. Not sure how to lead and develop the good ones to get them to stick around. Know the key to growth is leveraging staff but unsure how to do it. Sound familiar? Hiring staff and employee challenges can be the hardest thing you do. Not only do you need smart, competent employees that don’t need micro-managing to stay in business, they are essential for your company’s growth. Click here for the FREE REPORT with 5 SOLID STEPS that YOU can take to overcome the hardest hurdle that hinders business growth – Employee challenges! Bonus: With the FREE REPORT you will receive 10 MORE REVEALING TIPS on how you can get ahead of the curve to prevent the adverse impact of inconsistent or negative cash flow as well as poor planning and accountability.
In a typical scenario with no plan, fire-fighting is the order of the day with focus spinning from one idea to the next. Of course, without a plan, accountability is lacking and finger pointing becomes the norm. The cost of this style of management is high stress, fewer vacations, far less profitability and even disaster. If your company happens to be making money in spite of this management style, imagine how much less stress there would be and the money you could be making if you had a plan. Click here for the FREE REPORT with 5 SOLID STEPS that YOU can take to accelerate your success, break through limitations and achieve more! Bonus: With the FREE REPORT you will receive 10 MORE EFFECTIVE TIPS on how you can get ahead of the curve to prevent the adverse impact of employee problems as well as negative cash flow – the number one reason why businesses fail.
Our clients are our reason for being. “Strategic Essentials’ process supplied the needed tools and methodology to implement significant improvements leading to improved communication between departments, increased productivity and over $500,000 to our bottom line.” Jim Breslin General Manager, Model Dairy “Found 3 hours in my day…It’s unbelievable what I thought was a high priority versus what really is.” Jeff Watkins President, Custom Aire “After Make the Sale, my first month’s commission was $600. My second was $1,800 and my third was $4,500. Every month since, I’ve done from $7000 to $9000 in addition to my salary.” Paul Allen President, Stretch Hanger I’d like to get a copy of your FREE REPORT now. Click Here Want to see more testimonials, letters and case studies? Click Here
Step Five: Believe in yourself What does belief in yourself have to do with keeping track of your numbers and using a cash management system? Everything! Believe in yourself enough to be real with your business decisions, your stated goals and information shared with your staff. Managing your cash efficiently will help you sleep deeply at night and give you the confidence to move your business forward with integrity. You will discern whether you can honestly afford to hire that next employee, sign a lease agreement or take money out of the business for your own personal needs. Last, but not least, when you believe in yourself, others will believe in you. You will attract better clients, employees and vendors. And yes, your cash flow will be heads above other companies that lack sound business practices. Your fiduciary responsibilities having been met or exceeded will help you take your business to a whole other level of success.
Step Four: Keep Your Staff in the Loop Staff can and will be more effective if they know the parameters of the company needs – whether it’s how to correctly price a project, what is needed to bring the project on time and to spec, or how their performance can affect their future compensation and longevity with the firm. When staff understands with certainty what your expectations are for them, they will be more motivated, feel more trusted and help you create a company culture that everyone can enjoy. That culture should be one where everyone is on board for achieving company goals. They recognize that meeting goals is a must, not an option. If you feel your approach to cash management is lacking in some way, ask your key people for input. Some areas to ask include: Pricing How to achieve better quality sales How operations can be improved to help the bottom line Definitely get your bookkeeping staff involved. Rather than them holding back recommendations related to matters that could affect cash flow, help them to understand that it is beneficial for them to share all of their expertise pertinent with the company.
Step Three: Be Consistent. All too frequently companies set up procedures and systems that go unfollowed. This happens for a number of reasons such as the system is too cumbersome or takes too much time. An unused system, or one that is used inconsistently, will invalidate your work as well as make it much more difficult, if not impossible to achieve great results. Inconsistency leads to other issues too, such as your ability to pay employees and vendors in a timely fashion. It can also affect the business’ ability to deliver products and services to clientele. These types of situations could negatively impact your credibility with your clients, employees and vendors as well as damage your business credit. It is far better to block-off the time regularly in the calendar to correct deficiencies in the system as well as to implement the system to its greatest level of effectiveness. If uncertain on how to develop or implement such a system you can consult the internet, books on business cash management or utilize a qualified business coach. Note: There is a significant difference between cash management and cash flow. Positive Cash flow is having more than enough to pay everything that’s due and some extra. Negative Cash Flow is when you have less than what you need or you are left with less net than the last period. Cash comes in from sales, lines of credit, even credit cards, as well as investments and the sale of assets. Cash goes out to pay for operating and direct expenses including, but not limited to payroll, taxes, interest and cost of goods, in addition to principal debt service, and the purchase of assets. CASH IN is all you have available. CASH OUT is all you need to pay in the period. It…