Greetings Profit Maximizers!
What are you focused on these last two months of 2017?
What I have found is that many small business owners slow down and some even stop altogether. They feel as if they will not be able to earn revenue due to the upcoming holidays. They believe that the upcoming new year is the best time to promote, launch and grow their business. What these small business owners must realize is that their bills are not slowing down, so why should their cash flow.
One of the top ways to prevent cash flow struggle during the holidays is to create a cash flow plan that covers the entire year. Once this plan is created you are to then break it down into quarterly, monthly, weekly and daily goals and benchmarks. We will cover how to create this plan in detail at the upcoming More Money. More Profits Now seminar in Atlanta, GA. Your cash flow plan will enable you to earn money and generate a profit regardless of the current month, season or holiday.
In this week’s episode of Say Yes To Profits TV, I have identified four ways a small business owner can increase their cash flow in the 4th quarter:
- Contact Clients With Open Invoices. Review your accounting system and contact those clients that have yet to pay. I recommend you call them instead of emailing to inquire about the status of payment. Be sure to express the urgency in closing the invoice before the month/year ends. Be prepared and offer to accept their payment over the phone. Often times small business owners have hidden cash flow waiting to be collected in their accounts receivables – open invoices.
- Promote A Product/Service For A Holiday Sale. This is the perfect time to earn money by offering a product or service that will prepare your target market to start 2018 in a better position. You must position the offer in a way that demonstrations the need to purchase now in order have a better future. Another great tip is to inform everyone that the price/fee for your product/service is only during the 4th Quarter. If they do not purchase now, the price/fee will increase on a specific date.
- Avoid Overspending. Often times small business owners find themselves wondering where their cash disappeared too. The disappearance of cash flow can often be related to overspending on items that are not needed to operate the business. Be sure to spend your revenue wisely during this time of the year. If you can go without an item and continue to operate efficiently and effectively I recommend that you keep the money IN your business. Remeber every penny saved is a penny earned – profit. Your goal is to start 2018 profitable, not broke and busted.
- Offer Gift Cards For Purchase. During this time of the year, people are in the gift giving spirit and your business can capitalize off of that. Offer gift cards that someone can purchase from your business and the service or product can be redeemed at a later time. This is a great way for you to increase your cash flow during the holidays.
Cash is King for small business owners! Don’t allow this time of the year have a negative impact on your bottom line. It is highly important that you remain focused on earning revenue and generating a profit year around. Implementing the strategies and register to attend More Money, More Profits Now! seminar in Atlanta, GA where I will provide more ways to earn and keep more money in your business.
CEO of Say Yes To Profits, a virtual CFO and bookkeeping firm that focuses on educating dentists, consultants and services-based businesses on how to use their numbers to increase cash flow, boost profit margins and grow their business faster.
Founder of the Say Yes To Profits Academy and author of the bestselling book, Say Yes To Profits NOW, Octavia”The Profit Maximizer” Conner is known as America’s Leader in Profit Maximizing For Small Businesses. She is equipped with over 14 years of finances, accounting, and business development experience.
Octavia Conner is a high achieving accountant and financial management consultant who specializes in closing financial gaps and locating hidden money leaks in order to significantly increase profit margins.
She has a keen eye for improving the financial health of a company and as a typical result, clients double (even triple) their bottom line within the first 60 to 90 days of her guidance.
Download her free cd today to learn how your business can start to Say Yes To Profits!
For more information contact SayYESToProfits.com