For most business’ the answer is yes!
After all we are scrambling to meet payroll, then there are the remittances to the tune of several thousands of dollars and Oh crap! Income Tax is around the corner for the majority of us.
I’ve worked so hard. Where has all the cash gone? Credit cards maxed out to pay for this and that of office expenditures. You’ve been working 50 hours a week. Where’s the cheddar?
Time to get yourself a mouse trap. Stop the cash from flowing out of your business. Let’s talk about a few things that will improve Cash Flow.
Cause baby when the chips are down, Cash is King. You can’t eat on bad credit. Let alone live with the anxiety of it lurking around each corner waiting for the “slip up”. Get control of the green monster. Hog tie it and keep it in the bank were it belongs. That’s right. Under lock and key. Not running away from you rampid.
First of all get your ship in order by reading Profit First. No kick backs here. This is honest advice. Learn Mike’s journey. Feel his pain. Relate. Then do something about it.
Get the proper tools under your belt.
You have clients right? Guess what? Clients actually do want to pay you. Who’s getting in the way? You are! Stop complaining about merchant and processing fees. Get paid!
Check out Plooto to get paid sooner.
Find yourself looking at your accounts receivable. Ouch. What the heck?! Are you seriously giving everyone interest free loans? Come on Mr. Nice guy.
Check out Invoice Sherpa
Need to know which direction your business is going? Stay ontop of your bookkeeping with Quickbooks Online. Get real time data folks through bank feeds. It integrates with Invoice Sherpa and Plooto nicely. Lets keep the bookkeeping headache at a minimum. Try it!
Now the challenge. You’ve read Profit First and determined how to allocate your cash. You’ve figured out a faster way to be paid with Plooto. You have Invoice Sherpa as your automatic perky accounts receivable collector. Now its time to look at that road map. Were do you see yourself cash wise in 20 days? Ya I didn’t think you knew either. Don’t worry.
Check out Float. It will help you float your boat.
Note: word to the wise. In order for any forecasting and cash flow application to work well you need to keep your bookkeeping current.
Wishing you a very profitable 2016!