[vc_row][vc_column][vc_row_inner el_class=”container”][vc_column_inner][vc_column_text]We all want more cash-money right? We\u2019ve got the tips for making sure that you\u2019re getting out more moolah than you\u2019re putting in. This one\u2019s more for the big bosses out there but it\u2019ll also be handy for those tradies that work for themselves. <\/span><\/p>\n

FYI, cash flow isn\u2019t just the money you\u2019re making, cash flow is basically all of the money going in and out of the business – improving it just means making what\u2019s coming in better than what\u2019s going out. So how do you do it?<\/span><\/p>\n

Budget it all out<\/strong><\/p>\n

If you run a business, you\u2019re probably all over this but it\u2019s important to get your numbers right. By budgeting for the entire year as well as you can, you\u2019ll get a general idea of how much money will be coming and going. You\u2019ll know when it\u2019s a busy season and you might need more supplies, and when it\u2019s slower-going. Obviously you can\u2019t plan for everything, and we all know the unexpected crops up all the time, but budgeting for the regular costs like wages, vehicle expenses and marketing will give you a good start.<\/span><\/p>\n

Get your payment terms clear<\/strong><\/p>\n

This one\u2019s key to actually making you money. You\u2019re probably familiar with a few people who have taken a bit more of a lax approach to payment, but if you\u2019re very clear and you consistently follow up and stick to what you\u2019ve said, over time this won\u2019t happen nearly as often. On every invoice, make it clear when the expected payment date is and include a note about what happens next if they don\u2019t pay it on time. You might be happy to give your mates a bit of leniency, but be careful about doing this too often because it will hurt you more in the long run.<\/span><\/p>\n

Make paying easy as<\/strong><\/p>\n

The quicker and easier your clients can pay, the faster you can get paid. Although you might run all your payments based on an invoicing system, it might be a good idea to look at getting something like a portable EFTPOS machine for those smaller jobs so you know the money is there right away. That way the client doesn\u2019t need to worry about it later and you don\u2019t have to be wasting valuable time chasing up all the little unpaid bits and pieces.<\/span><\/p>\n

Don\u2019t be afraid to haggle<\/strong><\/p>\n

It\u2019s not just with clients that you can get your cash flow sorted – you might be able to save some money with your suppliers. Do you have a regular guy that you purchase from all the time? See if he can give you a discount for your loyalty. Got extra material left over from the job? Ask the supplier if you can return what you didn\u2019t end up using. Again, even if your supplier is a mate from way back, if he\u2019s charging ridiculous prices and won\u2019t budge, don\u2019t be afraid to take your business elsewhere. Harsh, but you gotta do you, right?<\/span>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row el_id=”related-post”][vc_column][vc_custom_heading text=”Related articles” font_container=”tag:h2|text_align:center|color:%2313143e” use_theme_fonts=”yes” el_class=”title my-5″][vc_basic_grid post_type=”post” max_items=”4″ element_width=”3″ orderby=”rand” item=”918″ grid_id=”vc_gid:1557708872949-fd9ff84b-3f46-8″ el_class=”related-posts mx-auto mt-3 “][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][vc_row_inner el_class=”container”][vc_column_inner][vc_column_text]We all want more cash-money right? We\u2019ve got the tips for making sure that you\u2019re getting out more moolah than you\u2019re putting in. This one\u2019s more for the big bosses out there but it\u2019ll also be handy for those tradies that work for themselves. FYI, cash flow isn\u2019t just the money you\u2019re making, cash […]<\/p>\n","protected":false},"author":1,"featured_media":2554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"acf":[],"yoast_head":"\n