Tips to Manage and Increase Cash Flow in Your Business There is an easy way to increase cash flow in your business; borrow more money! More money equals more cash flow, right? WRONG! Instead, let’s look at some ideas to help you increase cash flow in your business that won’t increase your debt. …
1. Have an accurate business plan When you are developing your business plan, try to be as realistic as possible. Puffing up the numbers may help a little if you’re trying to coax banks or investors into partnering with you, but when you are estimating costs and cash flow for your own purposes, you need to be…
Do you want more stability than charging by the hour gives you? Fixed pricing may just be the solution you have been waiting for. You have been charging an hourly rate now for everything that you do and you are finding that it is getting harder and harder to price your services. Your skills…
Will value pricing help increase my business profit? Value pricing is different to both hourly billing and fixed pricing as you move away from the X amount of hours = X amount of dollars structure. If you implement value pricing you are charging based on a desired outcome and educating your clients about…
Pricing seems to be such a hot topic at the moment. Well actually, most of the time! It seems to be that all-elusive ‘thing’ to understand exactly how to price your services. There are a number of ways we can price and charge for our services. It may be time based hourly…
It is crucial to have the right balance of billable vs non-billable work and to achieve this you need time management. As a business owner, especially a small business owner at start up, we are required to wear all the hats – marketing, sales and admin. I am sure you could also easily list…
I recently spoke with legal advisor and self-advocacy coach Shalini Nandan-Singh about the critical foundations small business owners and start-ups often overlook. Money and Legals. These are big and often scary topics but they are crucial to long-term business success. Shalini and I believe you need to have your business finances and protective legals in place from…
I often find myself answering this question time and time again and thought it would be a good opportunity to share the information. As I spend a fair amount of my time chatting with lean start up business owners and entrepreneurs, I get asked quite often: “Is it a problem that a person uses their…
Keep your pricing decisions as simple, stress-free and profitable as possible!