Newman Business Consult

11/11/2024

04/10/2024

Cash Flow can be defined as the total amount of money being transferred into and out of a business which affects liquidity.

Below are some Cash Flow tips for your Business/Startups

✓INITIAL CORPORATE STARTUP PHASE

1. Delay taking a salary until your business begins to generate cash flows from sales. Investors would be much more supportive if they realize you share in the development process by investing your time.
2. You can reinvest your business by delaying taking a salary.

✓SALES AND ACCOUNTS RECEIVABLE

1. Invoice your customers and suppliers quickly upon shipment of goods or when services are rendered.
2. Require payment upfront until credit has been established.
3. Establish late payment penalties as part of your terms and conditions.
4. You can have your customers pay their bills online with direct deposit

✓EXPENSES AND ACCOUNTS PAYABLE

1. The crucial part of cash flow that many businesses forget is managing their bill payments.
2. Make sure you pay your bills on time.
3. Before purchasing something new, set a goal for increasing sales to justify the expense.

✓GENERAL CASH MANAGEMENT

1. Have a good investment plan for your cash on hand to maximize it's potential earnings.
2. Establish a line of credit with your bank before you need it.
3. Establish good internal controls on the handling of cash.

02/09/2024

04/08/2024

Happy Founder's Day from us at NBC🎉

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26/07/2024

Three Ingredients to include in your Marketing or Sales effort.

08/07/2024