Get Better Traction With Your Customers With Instant Consumer Financing
Managing cash flow can be the difference between the success or failure of a small business. With a keen eye on producing products or services at a cost-effective rate while also keeping customers happy, cash flow can be managed. In addition if your business takes on an instant consumer financing solution you can continue to improve your cash flow situation.
When you have a solid cash stream, you’re able to pay your employees on time, purchase raw materials for your products and make an investment in the growth of your company. Without a solid cash flow you may struggle to pay salaries on time or fail to manufacture your products in such a way to supply vendors on a consistent basis.
What can you do to improve your cash situation?
- Don’t be taken off guard by what happens tomorrow. You should know what you need in the future and have the resources available to meet those needs. For instance, keeping accurate records provides you a look into the past, from which you can make predictions for the future. You’ll know when your slow season is coming and be ready to face it head-on.
- Make your money work for itself. Any savings you have should not be sitting in a low-interest savings account; it should be in interest-earning accounts. Don’t go with a long-term certificate of deposit because this locks your money away, making it less accessible. Go with a penalty-free certificate that is easily accessible when you need it.
- Work on making sure your customers pay on time. This is often the main reason businesses get in a cash crunch. In the B2B arena, it takes about 50 days for an account to be paid in full. Meanwhile, you’ve got expenses due on your end that can’t be met if those invoices aren’t paid. Offering an incentive to customers to pay early can put you in a better cash position.
- Carefully examine your cash outflow. Instead of replacing equipment outright, just have it repaired so you can get more mileage out of it. Use your bartering power to get the supplies and services you need instead of paying top dollar for them. Being resourceful like this can be time consuming, but it drastically improves your cash position.
- Instant consumer financing is something shoppers are increasingly expecting in a large variety of industries today. You need to consider seeking out a third party to handle your financing needs, as they’ll have the professional solutions that prop up your business and your customers’ buying power. Consumer financing can also give you the cash boost to continue to invest in the growth of your business.
The HELPcard offers the instant consumer financing you need to help increase your sales and grow your business. Our solution involves a quick and easy application process. Contact us today and find out more about our approach.