how to get your cash flow handled Archives

How to Get Your Cash Flow Handled – Part 3

March 27, 2014 by Lisa Mininni Leave a Comment

Why is it that two-thirds of the 600,000 start up businesses only survive two years?*

At the top of the list – poor cash management contributes to these failures.

There may be several systems missing that have a direct connection to cash flow, including accounting systems, sales systems, marketing systems, and lead generation systems.

This article focuses on marketing systems. If you don’t know how to access the incredible content and knowledge that’s inside of you and share it in a way that’s meaningful to your prospects, your marketing system may need a tune up.

Many entrepreneurs make the mistake of inconsistent marketing. What follows is usually inconsistent cash flow.

With automated marketing systems, you build consistency in your marketing. Many of these marketing systems are open source or free.

With consistency in your marketing and messaging, it builds trust. When you build trust with your prospects, watch as your cash flow follows.

Your Assignment

Identify all of the ways you market. Then, list ways to systematize or automate various aspects of your marketing, like automating your social media marketing for the next six months. Remember, however, social media is about creating relationships so it’s not a “set it and forget it” system. Tap into it each day to engage with your community by acknowledging those who commented on your content, commenting on someone’s message or sharing their content.

________

*Small Business Administration

How to Get Your Cash Flow Handled – Part 2

March 20, 2014 by Lisa Mininni Leave a Comment

What’s the bottom line on the high rate of failure for almost 44% of small businesses after 4 years? At the top of the list – poor cash management contributes to these failures.

Cash flow is like the lifeline to the heart of your business. Without cash, you delay your ability to grow your business and getting your talents and gifts into the hands of those customers who need it most.

There may be several systems missing that have a direct connection to cash flow, including your sales system. If you are unsure on how convert your prospects to clients in a way that is authentic for you and resonates with your target audience, something is amiss in your sales process.

Start by mapping out your sales process from your customer’s perspective. Map out every way your clients or customers find you. Once they find you, also map out how you pre-qualify or pre-educate them about your services and the transformation they will experience by working with you.

Remember to wear your customer’s hat when mapping out your sales process. Determine if it is easy for them to do business with you. You might be surprised at what you find.

How To Get Your Cash Flow Handled

March 13, 2014 by Lisa Mininni Leave a Comment

howtogetyourcashflowhandled excellerateassociates.com

The Small Business Administration estimates that about 600,000 new small businesses are launched each year. Yet, two-thirds will only survive two years, 44 percent survive four years, and 31 percent survive at least seven years.

What’s the bottom line on the high rate of failure? At the top of the list – poor cash management contributes to these failures.

Cash flow is like the lifeline to the heart of your business. Without cash, you delay your ability to grow your business and get your talents and gifts into the hands of those customers who need it most.

In order to grow your business, you’ll need to have a positive cash flow; that is, more cash flowing into your business than leaving your business. It may seem like a no brainer that if you need more cash flow, you need to attract new customers or sell more services. For many, however, achieving a consistent positive cash flow is easier said than done.

So, it may be time to ask yourself this question: “What am I missing?” There may be several systems missing that have a direct connection to cash flow, including your accounting system. (View the video for these other systems).

If you don’t know your cash balance, you’re missing a major piece of your accounting system. You can remedy it by using a software, like Quickbooks. At a minimum, review your financials once a month by scheduling an appointment with your CPA or your Accountant.

Your accounting system is the very one you need to track your money and create a plan to make informed business decisions. Remember, cash flow is like the lifeline to the heart of the business. Without cash, you delay your ability to grow your business.

Do you know what the biggest heartbreak of all is if you don’t get your money handled now? Those clients who will be denied the solution you provide if you go out of business.

Entrepreneurial Edge System x 250 Want to discover:

How to set up continuous cash flow?
Proven ways to systematize and monetize your marketing?
Specific systems and processes that continuously fill your prospect pipeline?

Get started with the Wake Up Profitable with the Entrepreneurial Edge System Implementation Program. Discover the systems approach to profitability EntrepreneurialEdgeSystem.com

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