Did you know there are at least four ways to kick start your cash flow?

First Is To Sell More

Now that may seem a bit obvious but for many people selling more feels like trying to build a rocket ship to go to the moon. Many people don’t really know where to look for new leads or how to make sure those new leads actually become a real paying client.

Second Is To Raise Your Prices

No, I’m not smoking anything…it’s true. Actually one of the biggest mistakes many people make when they feel a cash flow crunch coming on is to arbitrarily slash all their prices. Not always the best move and it can actually backfire.

Actually raising prices can attract better, more qualified clients. You need less sales at a higher price too. Raising your prices (or at least holding your current prices steady) works best when you’ve got the right model and positioning for the market you are approaching.

Third Is To Reduce Costs

Warning! Before you even consider doing this you had better have thoroughly reviewed your revenue & cost projections and have a good understanding of what’s going on. (Don’t worry, if you don’t’ know how to do this it’s one of the key components of our Fast Track program. I’ll make sure you get access quickly.)

Here’s why. Over 79% of business owners who cut costs pick the WRONG things to cut back on, leaving you vulnerable and in a state of declining momentum.

Last is Creative Business Financing

I didn’t know how to do this until I was probably in my eighth year of doing business. This is where you explore unique ways to increase your funding up front – factoring and financing are two biggies – to help improve your cash flow. There are a lot of cool tricks in this area that can put you on the fast track to funding your growth this year.

I’ll be sharing more tips like this, plus taking a few live coaching requests to help you get your business out of the rut and back into prosperity.

Join us live Thursday, January 7th at 5:00 pm PST /8:00 pm EST for Kick Your Cash Flow into High Gear Guide, a complimentary training I’m hosting.

In the mean time, what’s your biggest challenge with getting your cash flow on track?

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This entry was posted on Tuesday, January 5th, 2010 at 10:09 am and is filed under Business Strategy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.