What is a Cash Flow Strategist?
A cash flow strategist is someone who comes alongside you to help you get your finances and spending in alignment with your goals. A financial coach doesn’t tell you what your goals should be but instead helps you define your goals, create a plan to reach them while keeping you accountable along the way.
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Strategies for managing cash flow include invoicing customers in a timely fashion, offloading inventory that doesn’t sell well and closely monitoring where you are spending your money. Experts also recommend securing financing before you’re strapped for cash and restructuring payments to free up cash.
- Lease, Don’t Buy.
- Offer Discounts for Early Payment.
- Conduct Customer Credit Checks.
- Form a Buying Cooperative.
- Improve Your Inventory.
- Send Invoices Out Immediately.
- Use Electronic Payments.
- Pay Suppliers Less.