Way # 1: Speed up your cash flow. Shortening your cash flow conversion period is one of the quickest and easiest things a business can do to improve its cash flow.
Instead of billing only at the end of the month no matter when the work was done, change your billing practices so that you bill immediately after the work is completed. The quicker you bill, the quicker your chances of getting paid.
For more on what you can do to get your cash flow moving more reliably, read 5 Quick Ways to Improve Your Cash Flow.
More About Cash Flow
- Cash Flow Management
- 5 Ways to Protect Your Cash Flow
- 3 Methods of Sales Forecasting for Cash Flow Projections
- Preparing Cash Flow Projections
Image (c) Richard Drury / Getty Images
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Cash flow, the most important aspect of running a business. Good article.