Home
>
Small Business
>
Cash Flow: Why Chaos Equals Poor Cash Flow

Cash Flow: Why Chaos Equals Poor Cash Flow

Recently one of my customers told me the chaos swirling through his company was the result of poor cash flow. If only he had more money, his company would run better.

I must respectfully disagree.

Poor business processes produce chaos. Chaos leads to poor cash flow. Fix the poor business processes and the cash flow problems disappear.

What business processes am I talking about?

1. Having a clear picture of who your customer is.

Here's what my customer looks like: My customer is a small business owner looking for ways to make his or her business run better. He or she is often overwhelmed by all the tasks that must be completed and often does not have time for the really important business functions of strategic planning and forecasting and may not have a great deal of experience in those areas.

What does your customer look like? What challenges are they facing? What do they struggle with everyday?

2. Using that picture to develop services and products that provide value to your customer.

Based on my picture of my customer I can provide my customer with time saving services and products that teach them skills or provide knowledge they can use to solve the challenges they face everyday.

How can you help your customer? What products or services can you offer that will save them money or time? What problems can you help them solve?

3. Developing a plan of delivery.

What works best for your customer and how can you deliver that in a way that makes you money? My customers need both general knowledge for running a business and specific knowledge for running their particular business. And they're short on time. Therefore, I can combine a product like a manual of general information with one-on-one consulting services for their specific situation. If I deliver it over the phone or the internet, they can access my knowledge at a time that is convenient for them.

What ways can you think of to make your delivery more valuable and useful to your customers. The easier it is, the more your customers will love it.

4. Ensuring that you will be able to collect what is owed to you by establishing good credit policies.

Do you need to extend credit? Can you get paid at the time of delivery?

Can you get your customers to pay you by credit card? Can you ask for a deposit up front? Who will you extend credit to--what criteria will you use? I am happy to say that in all my time in business, I have had only one customer who did not pay me and I learned very valuable lessons from that experience. It caused me to change my process and I haven't had any problems since then.

Think through your business processes to see where the holes are. Booting the chaos out of your business by developing good business processes is the best way in the world to improve cash flow.

Are you a solo professional feeling Stressed, Disorganized? Tired of Working Long Hours for Less Than You're Worth? Struggling for Focus?: Learn how one Solo Professional used the Chaos Tamer to Survive and Thrive in the Midst of Total Rampaging Chaos. http://www.thejordanresult.com .

executive chauffeured services Bradford .. Madison to Airport car

In The News:

Getting virus alerts on your iPhone? Tech expert Kurt “CyberGuy" Knutsson helps you learn how to handle fake scam alerts and boost security.

Tech expert Kurt “CyberGuy" Knutsson says opening emails is safe, but risks arise from interacting with links, attachments or HTML content.

Tech expert Kurt “CyberGuy" Knutsson reveals four signs of compromised Social Security numbers and offers five steps to protect yourself.

Tech expert Kurt “CyberGuy" Knutsson discusses how MAB Robotics' Honey Badger 4.0, a versatile robot, now walks underwater with amphibious skills.

An updated Android trojan called FakeCall hijacks bank calls. Tech expert Kurt “CyberGuy" Knutsson says Android phone manufacturers and Google need to step up their game on security.

The Massimo Modular E9 is a sleek, smart and comfy tiny home in 409 square feet. Tech expert Kurt “CyberGuy" Knutsson takes a closer look at what the future of housing might look like.

Every stock trader should consider a virtual private network to safeguard their trading, according to tech guru Kurt "CyberGuy" Knutsson.

Apple recently announced its new lineup of Macs and rolled out Apple Intelligence, its latest artificial intelligence-powered feature for its products.

A Swiss-engineered robot can climb ladders, showing why it's at the cutting edge of autonomous robotic solutions for harsh industrial settings.

Kurt "CyberGuy" Knutsson presents the cities targeted most by robocalls, why this is happening and what you can do about it to protect your privacy.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents

Kurt "CyberGuy" Knutsson shares tips and suggestions for how to get the best use out of the updated Calendar app available with the latest iOS update.

Your Social Security number, your unique identifier used for many purposes, has likely been leaked on the Dark Web; here are some steps you can take to protect yourself.

Researchers have developed a new technology that creates strong, sticky fibers capable of lifting objects and capturing things from a distance.

Smart rings track the same things that smartwatches do, including steps, sleep and a general overview of your overall health, and they tend have more battery life than smartwatches.

Researchers have developed a robotic finger that can perform routine medical exams like those conducted by doctors, helping to address the growing shortage of trained professionals.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Insurance administrative services company Landmark Admin reported that a data breach from a May cyberattack affected over 800,000 people.

Sotheby's will auction the first artwork created by Ai-Da, the world's first robot artist created in 2019 by British gallerist Aidan Meller.

More than 250 million users of the Verizon Messages app will have to switch to another app. Verizon is shutting down Messages in the next month.

Tech expert Kurt “CyberGuy" Knutsson provides a list of 10 celebrities who are the most targeted by deepfake scams, including Tom Hanks.

Tech expert Kurt “CyberGuy" Knutsson discusses how Vast's Haven-1, launching in 2025, transforms space living with human-centric design.

UnitedHealth confirms over 100 million Change Healthcare users had their data stolen. Kurt “CyberGuy" Knutsson reveals what happened and what caused the breach.

Tech expert Kurt “CyberGuy" Knutsson explains how iOS 18 brings new text formatting and animated effects to the Messages app.

Whether you're a social media veteran or novice, Facebook friend request scams are common. Kurt the CyberGuy provides tips to keep your account safe.

Cash Flow: Why Chaos Equals Poor Cash Flow

Small Business