Christmas Cash Flow

Christmas can be a difficult time for small businesses within Macarthur, Campbelltown and beyond, as sales fall away and customers delay payments.

Follow these five golden rules to help avoid financial headaches over Christmas and into the New Year.

1.      Don’t be afraid to follow up your customers.

Call your customers if their payments are late, issue statements and reminder notices. Remember many of them will have similar problems to you and will be looking to delay payment if possible.

2.      Issue your invoice immediately on completion of a job.

Always check your invoices to avoid them being returned or not paid due to an error. Take the time to ensure you have invoiced all completed work before Christmas.

3.      Reduce your stock levels.

You can generate cash by minimising your stock levels over the Christmas break.

If required discount slow moving stock. Strictly manage any purchases pre and post Christmas.

4.      Manage your suppliers.

Speak with your suppliers and extend your credit terms if necessary. This is the cheapest form of finance. Many suppliers are large businesses that can afford to extend credit if you have been a good customer.

5.      Communicate.

Remember to keep everyone, including your bank, up to date. Tackle cash flow issues early on so that they don’t develop into problems later.   

Introducing Rick Fitzpatrick ActionCOACH Macarthur Illawarra

Are you working longer hours than you want to or ever thought you would be?

Do you want to regain the vision and dream that led you to forming your own business in the first place?
What would you do to regain control of your life and spend more time with family and friends?
I am a certified Business Coach with ActionCOACH, the World’s #1 Business Coaching Franchise (Entrepreneur Magazine, Jan. 2004 & 2005).

As your coach, I will be working with you in five key areas. The emphasis on each area depends on your needs, the type of business you have, and your goals. The key areas are: Sales; Marketing and Advertising; Team Building and Recruitment; Systems and Business Development; and, Customer Service.

My goal is to help small business owners, such as yourself, spend less time working in your business and more time working on your business. In the end, you'll be spending less total time working and will be making more money. I’d also like to help you put the FUN back in your business and your life.

As a small business owner myself, I know what it is like to worry about the day-to-day survival of the business and making the amount of money needed to run my business and personal life. I understand what it’s like to put in long hours and wonder what happened to the dreams and vision I had for my life and future.

I am here to help you change all of that. We will work together to redefine your dreams and vision, and then we will put into place the necessary systems, strategies, and tactics that will allow you to turn your business venture into a thriving, successful one.

We define a successful business as: a commercial, profitable enterprise that works without you. As your Business Coach, I will function as an unreasonable friend who tells it like it is and keeps you working on the path toward your dreams.

There is no time like the present, right now, to get started on your dreams and goals. If you are ready to move your business to the next level, contact me today for a FREE, NO OBLIGATION consultation.

Find out how you can change the way you do business to achieve the results you deserve!