Course: Getting strategic with cash flow

Sometimes you’ll have more cash going out than coming in. That’s fine as long as you have a plan to maintain a healthy cash position over the long term.

A cash buffer can help you manage through hard times. By having extra savings on hand for when cash inflows are slim, you’ll be better prepared to keep your business moving forward.

An emergency could close your business for weeks or even months. Cash buffer days allow you to restart operations after the unexpected occurs.

A nimble, strategic approach to cash flow can help your business collect more revenue, especially in times of uncertainty.

Invoicing is about collecting the money that’s already promised to you based on an agreed-upon price. Effective pricing balances cost, demand for your product or service, and profit.

Your customers and business goals may change over time, so it’s a good idea to review your customer segmentation as your business passes major milestones.

Sustaining customers are essential to maintaining a steady cash flow. Segmenting your customers can help you determine sales goals, strategies to deepen relationships and elements you might include in an outreach plan.

Whether you rent or own, real estate can take a big chunk out of your bottom line. Do what you can to use (and pay for) your space wisely.

Keep your business agile by maintaining a lean expense ledger. It can help give you the flexibility you need to seek new opportunities or adapt to changes in the marketplace.

Analyze your vendor relationships to discover places to save and ensure you’re getting good value for your spend.