A cash flow crunch in business can be a scary thing. In episode 64, I talked to my friend Susan Frew, who was a million dollars in debt in her heating and plumbing business. Hopefully, your cash flow crunch isn’t quite as bad as that. But in today’s Quick Fix Friday, I’m going to give you some tips on how to deal with a cash flow crunch.
- What’s the “fastest path to cash”? Is there something you can launch or promote quickly that will help get you cash now?
- Offer a discount for paying up front. Both for a new offering and for current clients.
- Put off payments on things that are non-essential
- Tap into a line of credit or change the way you pay your credit cards. Only use this for temporary cash flow crunches.
So let’s dive in a little deeper.
Catch up on the interview and my top takeaways in these other episodes:
- 65: How to Preserve Your Mental Health – Top Takeaways from Susan Frew
Read The Transcript Here
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