Cash flow is a term that gets bandied about a lot in financial circles. To listen to some people talk, you would almost think cash is constantly gliding down some idyllic mountain somewhere. In the philosophical sense, there is a lot of money out there that most people never even think about. But in the more immediate sense, you have to go after it if you want to get it. That's basic sales, but a lot of people also don't realize that you have to make your money work as hard as you do if you want cash to flow properly through your company. The following are some ideas that will help your cash flow more effectively.
Give Your Workers Perks
While a lot of managers try to force things down their workers' throats, better morale and productivity often comes out of giving them more perks. Perks can be anything your workers want, including letting them telecommute, giving them performance-based bonuses and even something odd strategies like providing them gourmet meals and a gym on-site. If your employees want something that you can provide them, go ahead and give it to them. While it might seem like you're spending money on frivolous things in the beginning, the increase in morale and decrease in turnover will be well worth your efforts.
While sending jobs overseas is generally not a good move to make over the long haul due to customer complaints and its negative impact on the local economy, using a company like Accounting Principals to buttress your work force can be extremely beneficial to you, especially when screening people is too much work to add on your full schedule. The effort you save using such a company to screen applicants can be better used for actually running your business. As many a frustrated boss has said through gritted teeth, you aren't paid to be a babysitter. By using a staffing company for non-core functions, you can save a ton of time as well as a bundle of money.
Reject the Urge to Grow at Any Cost
Sometimes businesses will start to slow their growth overtime because they've reached a high plateau. At this point, some businesses will begin to grow through buying smaller businesses. However, what generally happens to serial acquirers is an internal stagnancy and a lot of additional hassles. So when your business isn't growing organically, don't stress over it. There are dormant times for every company, and choosing to have your grow at a slow yet productive pace is way better.
What ways have you done lately to make your cash flow?
This is a guest post from Jade Mitcham. While the urge to grow may be overwhelming, it is important to make sure your business is really ready for major change. If not, make some small changes to better prepare your team for the work ahead.