How to Generate Cash Without Increasing Price
Jun 08, 2023Are you looking to supercharge the cash flow in your business? Having a healthy cash flow is essential for growth and expansion. While many consider price increases as the go-to solution, it's important to explore sustainable alternatives.
I'll delve into three practical and effective strategies that you can implement right away to increase the cash available in your business.
The key takeaways from this episode are:
1. Exploring alternatives to price increases: While many consider raising prices to increase cash flow, this episode highlights the importance of exploring sustainable alternatives that can be implemented right away.
2. Practical strategies to increase cash flow: The episode presents three effective strategies that can help increase the cash available in your business without raising prices. These strategies focus on accounts receivable, inventory management, and optimizing bill payments.
3. Bonus tip: The episode concludes with a bonus tip on generating passive income as an additional method to increase cash flow without raising prices. This tip offers an alternative avenue for boosting cash flow and enhancing financial stability in your business.
What you'll hear in this episode:
[1:28] Why a price increase is not always on the table to increase cash flow?
[2:24] Method #1 to increase cash in your business without raising the price - accounts receivable.
[3:40] Method #2 to increase cash in your business without raising the price - inventory.
[5:34] Method #3 to increase cash in your business without raising the price - paying your bills.
[7:00] Bonus tip to increase cash in your business without raising the price - passive income.
Related episodes:
Tips for Negotiating Business Deals
Which Financial Professionals Do You Need in Your Business?
How to Build a Solid Financial Foundation in Your Business
Resources:
Endless Cash Course: https://www.keepwhatyouearn.com/endless-cash
Cash Flow Forecast Template: https://www.keepwhatyouearn.com/cash-flow-forecast
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
