“Many small businesses have profit problems, but the good news is not all small firms have cash flow issues,” writes the management consultant (http://www.bizcoachinfo.com).
“For successful small firms, strong cash flow in finance doesn’t just happen," asserts the profit professional.
“They’ve got a system to stay above water,” writes Mr. Corbell. “They plan and swim with precision.”
The Biz Coach checklist includes 11 strategies, but they’re far-reaching. They range from marketing, and how to avoid burnout to the two Ms of cash flow (monitoring and managing).
His other suggestions include:
“When feasible, use the three Rs – recycle, reuse and reduce,” writes Mr. Corbell.
“Unlike a large business, you don’t have big cash reserves and customer base,” he says. “Leverage all the possible money-saving tools in your business and personal life.”
“Look for opportunities to multiply your sources of revenue,” he adds. “That includes buying out competitors, especially, if you get a favorable price, terms, and valuable talent. Check with your CPA to see if a leveraged buyout is workable. You’ll save cash flow”
His full analysis – “Checklist to Keep your Small Business Floating above Water” –
To read his step-by-step solutions for a company turnaround: http://www.bizcoachinfo.com/
The Biz Coach site provides countless free strategies for business performance, in Planning, Operations, Marketing/Sales, Finance, Public Policy, Tech, HR and Wall Street.
Mr. Corbell fully understands workplace diversity and cross-cultural communication are necessary for good business (he holds Tribal Citizenship in the Cherokee Nation).
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Seattle Biz Coach Terry Corbell is a business-performance consultant and profit professional. As a longtime columnist, he publishes performance-