Your Cash Flow Sucks

cash flow sucksYeah, so did mine last year. Sucked.

The leading question I’m asked by consulting clients is how they can make more money.

Here’s my response:

Why do you care about making more money when you can’t tell me where what you’re currently making is going?

Last year, I couldn’t answer that question. So I asked for help.

In my latest column for American Express OPEN Forum, I’m giving you 7 no-brainers to improve your business’ cash flow. They are all moves I’ve personally made in my business.

No theory, all practice (lord knows, there’s enough theory).

The difference between last year and this year? I was willing to do what it took to get my financial shit straightened out. Maybe you’re ready, WILLING, and able to do the same.

Click here to read 7 No-Brainers for Improving Your Business Cash Flow

Click here to see a very fancy picture of a mouse holding an umbrella.

Click here to see Clive Owen.

 

5 comments
bdorman264
bdorman264

For what it's worth, this was going to be my comment at the AmericanExpress site, for some reason it wouldn't let me post. I thought I was off double-secret probation by now....hmmm....

Cash is king; if our corporation wouldn't have been in a good cash position in '07, the last five years would have been downright ugly. 


Good advice indeed. 

JohnBunka
JohnBunka

Too bad its not Clive Owen holding an umbrella for fancy time

MitchRezman
MitchRezman

Cash flow monitoring tips - get http://quickbooksonline.intuit.com on line - see everything every where - invoice from the airport- we just deployed https://www.shoeboxed.com/ putting thousands of receipts in the cloud.  Cash flow improvement tips - We have 4 merchant accounts  - we've had 14 merchant accounts over 11 years. 2 years ago I pulled all the chart of account data for "credit card processing fees" and compared the gross spend against all revenue - 1/4 point swing over 10 years - 14 merchant processors - fuck rates - you do the math - there are 3 criteria you need when seeking credit card merchant accounts (did I mention fuck rates) - rates are meaningless 1) next day funding - usually comes with merchant/bank relationships ie Chase/Chase Paymentech 2) make sure the merchant account is a "one point" processor. Most next day funding processors take 3 days to fund Amex - One point processors fund Amex next day - 3) Check out PayPals new credit card gateway - we get website eCommerce money when we're using the new PayPal gateway (we switch through out the day to send money different places) in 120 second including Amex - we can then expense it out instantly using their debit card or pay those vendors who take PayPal with a send money action. - You say you take money but don't take PayPal? You're an idiot - ACH - 24 - 72 hours to move money (so the banks can blow it on investing in derivatives while they''re "holding YOU MONEY)  PayPal = NOW I like geting my money now

Walker Thornton
Walker Thornton

So, of course the first link I clicked was the mouse--nice purple umbrella. Then Clive Owen---should have looked at him first. 

Now I'm heading over to read about Money Flow--mine positively sucks, though I'm making progress this year! Have a good spreadsheet where I track invoices, sent date, etc...I've gotten 2 new clients since early Feb. !!!  But, I'm still sucking at it, just a bit!