There are 3 primary ways to increase cash flow
(i) Make more sales
Sales follows marketing. There are very cost effective ways of marketing that do not require a lot of cash flow and these should be initiated as soon as possible. Some examples are :
The next level is a bit more costly how should be started as soon as funding is available :
Increase Profit Margins
Increasing profit margins may be done by increasing the revenues or decreasing the cost of goods.
In most cases reducing most of the day to day operating costs of a business is relatively straight forward and can be done without too much problem. The most significant cost and the most challenging to reduce is the cost of overhead or back office labour.
DyCom has a team of highly skilled and experienced staff able to operate very cost effectively as and when required. We engage skill professionals to do specific tasks so that they are working very efficiently and you only pay for what you use. Apart from being very cost competitive, your own internal staff can now be deployed to spend more of their time working on higher value tasks that are increase the bottom line profits.
Once the cash flow problem is resolved, the next greatest challenge is like to be lack of time to do everything. Some ways of resolving this are :-
When considering employing more back office staff to enable better distribution of the workload, it is important to keep an eye on the bottom line and ensure that you are employing staff at levels and costs appropriate to the return on the investment.
Some of the resources that DyCom can provide are :-
A business without clearly defined objectives and a clear strategy is like a ship without a rudder – it has little hope of reaching the destination. Creating a business plan can end up being time consuming and frustrating and in most cases never gets completed.
Our goal is to work with the business principals to create a successful and profitable business. In order to give this the best chance of success we start with creating a business plan with some clear objectives and a strategy to reach them.
Our primary aim is to work with the business owner to achieve their objectives or Goals. In many cases these are quite unclear so one of the first things we do is to help set some clearly defined long and medium term goals.
Having clarity about products and services to deliver to your target customers will increase returns.
The more you understand your market, the easier it will be to differentiate your business. The more you can differentiate your business, the easier it will be to make sales.
Having a clear knowledge of who your customer is, where they are and how much they spend, will save costs on marketing and generate better return
Evaluation of Strengths, Weaknesses, Opportunities and Threats will assist in creating the marketing program and identifying how to position your business to maximise the results
The top 5% of businesses who achieve their goals and vision are those who have clearly defined realistic goals with associated timeframes. Most business owners are so snowed under with work that creating a business plan is one of the things that never gets completed. We take the pain out of this process by facilitating it and then
Prior to creating a strategy to reach the objectives that have been set, it is important to understand the current position. The business analysis will help in providing an understanding of the products, the market, strengths, and weaknesses and set the foundation for creating a strategic plan.
In order to have a successful business it is important to have a competitive edge. Your clients and prospects need to have a very clear reason to buy from you. The more clearly you can articulate your benefits over your competition the more likely you will be to win the business
Understanding your strengths will the more clarity a business has about where it is going, the more chance it has of getting there