Are You Proactively Managing Your Cash Flow?

Apr. 2016

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It is common for small business owners to occasionally run into a cash flow problem. If you're among the small businesses who have experienced this challenge, you're not alone. Our article below titled 'Tired of Late Paying Clients' shares tips to allow you to regain control of your cash flow. On a related basis, as your business grows, you may reach the tipping point where you need to decide what role to hire or outsource. As a surprise to many, this decision can increase your cash flow as you bring your focus back to your area of expertise, allowing you to grow your business.

If you have any questions or would like to learn more or schedule a consultation, call us at 724-359-5022 or send us a note via our contact form.

TIRED OF LATE PAYING CLIENTS?


	Take steps to proactively manage your cash flow to make your business a success.

Cash flow is an important part of keeping the doors open for any size business. With many small businesses running on tighter budgets, it is more important than ever to have a handle on your accounts receivable. There are techniques you can use to help better manage your cash flow.

Consistency in invoicing can help a small business owner maintain a steady stream of income. Think about the clients who only write checks monthly or twice a month. When bills come due do you write out a check the second you open it up and send it, or like most people do you prioritize which checks get sent out when? These things all play into when a small business may pay their invoice.

Learn to Proactively Manage Your Cash Flow

ARE YOU AT THE TIPPING POINT?


	When you reach your tipping point... consider outsourcing key roles.

As a small business owner you are pulled in many different directions, consistently wearing a lot of hats. There are many decisions you make every day. What can be delegated, what you need to handle personally, how to run the day-to-day operations and how to plan for business growth.

There comes a tipping point where business owners must decide if they should hire or outsource. If you think about who sits around the senior management table at larger companies, you will discover, the president, chief information officer, human resources, chief financial officer and chief marketing officer. But as a small business owner, you may not be able to afford the salaries of these types of positions. When you hit that point you need to make the decisions of what you can outsource and what is still manageable in house. See how to know when to make a move.

Determine if You're at Your Tipping Point

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We'd like to welcome our newest client, Crafthouse Stage & Grill and Legacy Lanes featuring craft food, craft beer, live music and entertainment for all ages.

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Paxton Bookkeeping and Tax Services

(724) 359-5022
lauri@paxtonbookkeeping.net
http://www.paxtonbookkeeping.net