Get revenue is essential to every business, especially, usually a steady stream of cash. For novices, achieve this last mission as soon as possible is almost vital to operate without further complications throughout the first year, which is one of the most crucial stages of every business.
The answer to maximize cash flow is to identify what things can take an accurate record, with the objective of determining clear financial goals in the short, medium and long term. Among these factors are the following:
– Total revenues opportunities, Total number of transactions, average sales value, profit margin.
What would be one of the first and simplest ways to immediately boost cash flow and earn revenue?
The first step is to promote among your buyers the product or service that greater profit margin you generate. In addition to this strategy, here are five tips that will allow you to make money while you integrate a solid customer base. This will provide the basis for ensuring the profitability and life of your business in the coming years.
Advances and prepayments
If you have a company of service providers, advances and prepaid contracts are a good solution to generate a steady cash flow. But: must meet as soon as you settle or you will not last long on the market. If you dedicate yourself to the sale of products, you can do the same with previous orders, which calls for a percentage of the final sale price. The purpose is to ensure the purchase order or a specific delivery date.
Exclusive sales for new buyers or loyal customers
This practice is ideal for creating a captive audience. Now, how do you do? Organize a workshop, class or demonstration that people know and become familiar with your product or service (no purchase). Eye: This is an opportunity to live together in an informal setting and focus on the people knows better. Solve all questions that may arise and always be sincere in your answers.
Shorter payment schemes
Depending on the nature of your business, you can design payment schemes that include shorter. Tip: better to handle this as a supply and use another resource as an incentive for early payment. For example, offers a small discount (perhaps 5%) for prompt payment. Another option is a gift or another kind of reward of added value.
Schedule of frequent clients
Perhaps this strategy is not so new, but still effective. With only cover a single fee of $50 to $100, people have the right to be part of a select club. At first, use that money to develop loyalty credentials and invest in other expenses that arise. Then, the extra money you get will go direct to your cash register.
Testing new products in certain niches
Well, you have the opportunity to measure the temperature of the rest of the market and also to obtain income from it. Depending on the product or service to the test and the influx of potential customers can be the first to create additional line of business.