1. To get more cash a business needs to make more sales - obvious really. But rather than try and find new customers, how about trying to increase sales revenue from existing customers. This can be done by:
- increasing prices
- increasing the number of products bought in each transaction
- reducing the amount of time between purchases
- introducing complimentary products
2. Review your credit terms. If you have to give credit at all reduce the length of time you give customers to pay. If this makes you nervous about losing existing business, just introduce it for new customers.
3. Invoice quickly - daily if possible. Make sure your invoices are clear and accurate and contain information on how and when to pay.4. Chase money you are owed on or before the due date, not after it.
