How to Maintain your Cash Flow

Posted on November 1, 2010 by

In this economy it can be very hard to keep your business’ cash flow at a level where you’re still making a profit; everybody is cutting back and pinching pennies. There are some things you can do as a business owner to make sure your business does can either maintain your current level of income or at least stay out of the red until the economy gets better.

The first thing you need to do as a business owner is to cut back on your own budget.  Find little ways where you can save money in your business; a little money adds up to a lot of money. Some of the things you can do is start working more hours yourself, so you can cutback on payroll, work out of your home, so you don’t have to rent office space, cut back on some of the amenities you offer you staff such as lunches or bonus’, and if worse comes to worse you may have to start using some less expensive products or materials to cut back on your overhead cost.

The second thing you can do as a business owner to maintain your cash flow is to start doing your own advertising.  There are a lot of ways business owners can promote their small businesses without the high cost of advertising. Small businesses owners should take more advantage of Facebook, Twitter, and hub sites for free advertisement. Though they make be perceived as social networks and are not necessarily business related they have great potential to be. If you look at celebrities like Kim Kardashian and Nicole Richie they use their Twitter to solely promote their brand.  Twitter is a great way for small business owners to let people who they would never come in contact with know about what new and exciting things are going on.  Facebook, is a great way to get your name out there and get people talking about your business, and hubs can be used a free websites instead of paying for your own domain name every month or year.

Other great way to maintain your cash flow is just to get excited about your product or service. When people see how excited you are about whatever it is you have to offer they will be more inclined to see for themselves what you have to offer.  Even if they don’t buy or use your service right away, at least it’s in their mind and they can tell others about it.

To maintain your cash flow you just want to make sure people are talking about, if they’re not talking about you and your business and they new and exciting things you have going on, then you’re not doing something right. Do whatever you have to do to keep people talking.