Top 10 Tips building blocks to increase CASH FLOW
The one thing you must always remember in building a business is CASH is KING, no matter what, you have to keep it flowing; we’ve listed our top 10 things for you to look at in your business to improve cash flow with out spending a fortune.
1) PRESS RELEASE
When did you last tell your local news papers, local magazines or web directory about something exciting happening in your business? Remember they need content as much as you need coverage. Tell them about who’s been promoted, what new contracts or of any new certifications you’ve won.
2) NETWORKING EVENTS
There are coffee mornings and breakfast meetings all over the place, you need to attend as many of these as possible to get your face seen every. Make sure to take lots of business cards and have a clear idea what you are going to tell people about our business.
3) HOST BENEFICIARY
Whom do you know in another company that sends out invoices by post to their customers? What you need to do is find a product or service that you could offer their customers. This works great with discount vouchers; you just supply the vouchers and wait for the calls, as the invoices are sent out by the other company.
4) SALES SCRIPTS
Most people don’t like telephone scripts as they say it takes out the personality, but you can use them in many different ways. Outline all the things you need to say, for instants, the company name, your name, special offers etc, but above all be polite.
5) INVOICING
Make sure you get those invoices out ASAP. The sooner the customer gets it the more chance you have of getting your money. Don’t be scared of asking for your money either, remember it is yours, you supplied a product or service for them. By the way, this is a great time to remind customers about special offers, just pop the flyer in with the invoice.
6) REFERRALS
Word of mouth marketing is the most cost effective form of marketing in the world, so how do you get people to talk positively about your business? EASY, if you are the best at what you do (not the cheapest), you will get people recommending you to others; customer service, helpful, knowledgeable about your products and services, and most of all be polite.
7) CONVERSION RATE
This is where many companies fall down; they think that because the phone rings and lots of people come through the door they are busy. Reality is that when you look carefully; you’re busy but not busy achieving! Take hold of this fast, look at your USP, in store demonstrations, wording on literature, offers and stock levels.
8) PAYMENTS
How can your customers pay you for your products and services? Do you accept cash, cheque, credit cards or BACS? Look at what is the cheapest one to accept from a banking point of view and which one will clear in the bank the fastest. It’s worth offering a discount to get your customers to pay when and how you want.
9) SALES
Don’t be scared to ask for the sale. If they’ve come through the door or called you they are obviously in the market place. Look at your dead stock, can you do a special offer with it to turn it in to cash. How can you make it easier for customers to contact you? Do they have all your up-to-date contact details, address, telephone, mobile, email or website. Don’t give them any reason to go else where.
10) DATABASE
You always need people to contact about your business so make sure that you always keep your database up to date. Make sure you have as many details on there as possible about them, their business and what they buy, because this used correctly can earn you a fortune.
11) PROPFILE
Raising your profile is what keeps you ahead of your competitors so, how can you achieve that without spending a fortune. Depending on the type of business you are, you can look at various things, if you have a website to drive extra traffic you may want to look at a Myspace, facebook or directmatches website as well. There you can add blogs for other business people to read free. Something like free tips and help about your field, with a link to your web site, or a trade magazines for4 you to write a monthly column.
Oh, that 11 top tips not 10. That means you got 10% more than you thought you were going to get. See like everybody else you like something free.
Hopefully these building blocks will help you build a better business. If you need clarification on any of the above points, please feel free to call us, we will be please to help you.
Mark
07979 080808
Business site http://www.abcadvantage.biz/ Search engine http://www.abclocal.biz/
The one thing you must always remember in building a business is CASH is KING, no matter what, you have to keep it flowing; we’ve listed our top 10 things for you to look at in your business to improve cash flow with out spending a fortune.
1) PRESS RELEASE
When did you last tell your local news papers, local magazines or web directory about something exciting happening in your business? Remember they need content as much as you need coverage. Tell them about who’s been promoted, what new contracts or of any new certifications you’ve won.
2) NETWORKING EVENTS
There are coffee mornings and breakfast meetings all over the place, you need to attend as many of these as possible to get your face seen every. Make sure to take lots of business cards and have a clear idea what you are going to tell people about our business.
3) HOST BENEFICIARY
Whom do you know in another company that sends out invoices by post to their customers? What you need to do is find a product or service that you could offer their customers. This works great with discount vouchers; you just supply the vouchers and wait for the calls, as the invoices are sent out by the other company.
4) SALES SCRIPTS
Most people don’t like telephone scripts as they say it takes out the personality, but you can use them in many different ways. Outline all the things you need to say, for instants, the company name, your name, special offers etc, but above all be polite.
5) INVOICING
Make sure you get those invoices out ASAP. The sooner the customer gets it the more chance you have of getting your money. Don’t be scared of asking for your money either, remember it is yours, you supplied a product or service for them. By the way, this is a great time to remind customers about special offers, just pop the flyer in with the invoice.
6) REFERRALS
Word of mouth marketing is the most cost effective form of marketing in the world, so how do you get people to talk positively about your business? EASY, if you are the best at what you do (not the cheapest), you will get people recommending you to others; customer service, helpful, knowledgeable about your products and services, and most of all be polite.
7) CONVERSION RATE
This is where many companies fall down; they think that because the phone rings and lots of people come through the door they are busy. Reality is that when you look carefully; you’re busy but not busy achieving! Take hold of this fast, look at your USP, in store demonstrations, wording on literature, offers and stock levels.
8) PAYMENTS
How can your customers pay you for your products and services? Do you accept cash, cheque, credit cards or BACS? Look at what is the cheapest one to accept from a banking point of view and which one will clear in the bank the fastest. It’s worth offering a discount to get your customers to pay when and how you want.
9) SALES
Don’t be scared to ask for the sale. If they’ve come through the door or called you they are obviously in the market place. Look at your dead stock, can you do a special offer with it to turn it in to cash. How can you make it easier for customers to contact you? Do they have all your up-to-date contact details, address, telephone, mobile, email or website. Don’t give them any reason to go else where.
10) DATABASE
You always need people to contact about your business so make sure that you always keep your database up to date. Make sure you have as many details on there as possible about them, their business and what they buy, because this used correctly can earn you a fortune.
11) PROPFILE
Raising your profile is what keeps you ahead of your competitors so, how can you achieve that without spending a fortune. Depending on the type of business you are, you can look at various things, if you have a website to drive extra traffic you may want to look at a Myspace, facebook or directmatches website as well. There you can add blogs for other business people to read free. Something like free tips and help about your field, with a link to your web site, or a trade magazines for4 you to write a monthly column.
Oh, that 11 top tips not 10. That means you got 10% more than you thought you were going to get. See like everybody else you like something free.
Hopefully these building blocks will help you build a better business. If you need clarification on any of the above points, please feel free to call us, we will be please to help you.
Mark
07979 080808
Business site http://www.abcadvantage.biz/ Search engine http://www.abclocal.biz/
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