Cash is king-so they say. If you work for yourself or someone else, you need to be aware of ways to improve the cash flow. Budgeting and collecting are not glamorous but they are both key to having a successful business. Working in a successful business is much more fun than working for a struggling one!
1. Stick to your budget. (If you don't have one, make one now.) The budget is part of a business plan. You want to know exactly how much to spend on each large item you purchase and when you will have the cash to do it. Your cash flow projection coupled with your forecast will give you the proper timing for making purchases. The items you have budgeted for should also be part of the business plan.
2. Bill your clients regularly. Many business owners are so busy selling to new clients that they forget to invoice the clients they have already worked with. Put the task of billing your clients on your calendar and then stick to that schedule.
3. Get a retainer for your services before you begin the work. If you are going to be working with a client over a period of time, you will want to request some money up front before you begin to deliver the service.
4. Give a discount for early payment. You will be able to collect the money more quickly if you offer a discount for prompt payment.
5. Accept a credit card for payment. Although you have to pay the credit card company for this service, having the convenience of a credit card allows the client to pay immediately. Collection is now the problem of the credit card company.
6. Use your own credit card to finance purchases but do it cautiously. If the interest rate is low and you can pay the credit card company back relatively quickly, credit cards are often a good way to even out your cash flow.
7. Establish a line of credit with a bank. This is relatively easy to do so long as you have good credit and it gives you a cushion of cash when things are tight. Sometimes the bank will offer a really good rate to encourage you to become their customer for other banking services.
8. Put the cash that you have on hand in an interest bearing account. No reason to have cash sitting in an account that doesn't accrue much interest. As cash grows consider money market accounts, CDs and savings accounts.
9. Pay your outstanding bills judiciously. Notice which vendors are willing to wait for payment and which will charge you interest if you are late. Schedule payment to maximize the cash in your account.
10. Consider getting an expert to watch your cash flow. Have someone (financial advisor, accountant, bookkeeper) available to run financial reports each month so you know exactly where you stand in your business.
French president tells Boris Johnson he must present concrete proposals for UK exit
Emmanuel Macron has described the Irish backstop as âindispensableâ to a Brexit deal and urged Boris Johnson to set out his proposed alternatives as soon as possible, as he met the British prime minister in Paris on Thursday.
The fiance of Aras Amiri, a British Council employee imprisoned in Iran on spying charges, has accused the UK government of being âutterly blind to their responsibilityâ to try to secure her release.
Financier created fund in new will two days before suicide
Experts say prying open fund will be difficult for accusers
The will that disgraced financier and sex offender Jeffrey Epstein signed just two days before his jailhouse suicide puts more than $577m in assets into a trust fund that could make it more difficult for his dozens of accusers to collect damages.
Estate lawyers and other experts say prying open the trust and dividing up the financierâs riches is not going to be easy and could take years.
Claim over Simon Cheng, of Hong Kong consulate, often used by Bejing authorities to smear critics
Chinese state media has accused a worker at the British consulate in Hong Kong was detained in mainland China for visiting prostitutes â an accusation often used by the authorities to smear the reputation of government critics.
Simon Cheng, 28, a trade and investment officer for Scottish Development International, travelled to Shenzhen, a city that borders Hong Kong, on 8 August. He sent messages to his girlfriend as he was about to cross back over the border at about 10pm and has not been heard from since.
âIt would not have happened to a white kid,â Angela Washington said after staff used a marker pen on Juelz Triceâs banned haircut
Juelz Trice came home from school earlier this year with permanent marker ink scribbled on his scalp, but it was not a prank played by one of his fellow seventh-graders. It was a punishment enacted by some of the staff.
The boyâs parents filed a federal civil rights lawsuit this week and have told the Guardian they believe the act, a hapless attempt to hide a âfadeâ haircut with a design that violated the school districtâs dress code, was rooted in racism and left him humiliated.
Brazilian president claims green groups behind blazes, which have increased 84% over same period last year
The Brazilian president, Jair Bolsonaro, has accused environmental groups of setting fires in the Amazon as he tries to deflect growing international criticism of his failure to protect the worldâs biggest rainforest.
A surge of fires in several Amazonian states this month followed reports that farmers were feeling emboldened to clear land for crop fields and cattle ranches because the new Brazilian government was keen to open up the region to economic activity.
Richard Braine accused of stoking tensions after also saying there are no âmoderate Muslimsâ
Richard Braine, the new Ukip leader, has been accused of whipping up religious tensions and anti-Muslim prejudice after leaked emails showed he argued that people should no more want Muslims to settle in their country than Nazis.
Braine, who won the leadership after a campaign in which he expressed anti-Islam views, also suggested that non-Muslims needed to help Muslims to âcast out their demonâ and argued there was no such thing as âmoderate Muslimsâ.
Democratic presidential hopefulâs 10-year plan warns of devastating economic consequences if crisis is not addressed
Bernie Sanders has laid out an ambitious 10-year, $16.3tn national mobilization to avert climate catastrophe, warning that the US risks losing $34.5tn in economic productivity by the end of the century if it does not respond with the urgency the threat demands.
The Vermont senator has long spoken of the climate crisis as a existential danger to the US and the world, and he has previously endorsed a Green New Deal, which he put forward with the New York congresswoman Alexandria Ocasio-Cortez.
Exclusive: accidental release of intelligence officerâs name in Annastacia Palaszczukâs diaries blamed on âadministrative errorâ
The Queensland premierâs office has mistakenly published the name of a secret intelligence operative in an extraordinary national security breach potentially punishable by up to 10 yearsâ imprisonment.
The name of the Australian Security Intelligence Organisation (Asio) officer was accidentally published during the routine public release of Annastacia Palaszczukâs diaries, a practice designed to boost government transparency.
From power cuts to infrastructure failure, the impact of climate change on US cities will be huge â but many are already innovating to adapt
Between record heat and rain, this summerâs weather patterns have indicated, once again, that the climate is changing.
US cities, where more than 80% of the nationâs population lives, are disproportionately hit by these changes, not only because of their huge populations but because of their existing â often inadequate â infrastructure.
In the Netherlands, where there are more bikes than people, serious money is being spent encouraging even more people to get on their bikes
In a nation with more bikes than people, finding a space to park can be a problem. The Dutch city of Utrecht is unveiling an answer at its railway station on Monday morning: the worldâs largest multistorey parking area for bicycles.
The concrete-and-glass structure holds three floors of gleaming double-decker racks with space for 12,500 bikes, from cargo bikes that hold a family to public transport bikes for rent.
To protect itself from destructive flooding, the city has built a park designed to store and recycle rainwater
In Alicante it never rains but it pours. The city in southeast Spain goes without rain for months on end, but when it comes itâs torrential, bringing destructive and sometimes fatal flooding.
Or at least, it used to. In San Juan, a low-lying area of the city, authorities have built a new park with a twist. Called La Marjal, it serves as a typical recreation area and a nature reserve â but its primary purpose is to store, and then recycle, rainwater.
With It Chapter Two out next month, plus the news that an adaptation of The Girl Who Loved Tom Gordon is back on track, we count down the finest big-screen versions of Kingâs terrifying tales
Cujo arguably has more thrills. Apt Pupil certainly has more chills. But with his sole directorial effort, Stephen King â that great chronicler of retro Americana â somehow made the perfect drive-in movie: a silly, slapdash nightmare of murderous vehicles and appliances attacking hysterical patrons (including a bewildered Emilio Estevez) at a truck stop.
Paul Bussetti, 47, says burning of cardboard tower was not meant to be about victims
The burning of a model of Grenfell Tower on a bonfire was a joke about a group of friends, not about the 72 people who lost their lives in the blaze, according to the man who filmed the footage.
Speaking at Westminster magistrates court, Paul Bussetti claimed the video â shot at an annual party held by a friend â was considered âfunnyâ by those involved. He said it was not intended to be about the victims of the 2017 fire.
Bussetti, 47, is on trial accused of sending a âgrossly offensiveâ video on WhatsApp and causing footage of a âmenacing characterâ to be uploaded on YouTube.
On Thursday, while giving evidence, the married father of two told the court it was âcertainly not the caseâ that the figures in the cardboard model, which had âGrenfell Towerâ written on it, were meant to be those who died in the fire.
Demonstrators say they will persist until military-backed government is replaced by civilian democracy
Six months after a wave of protests began in Algeria, people are still demonstrating and the military-backed government appears determined to keep its grip on power.
The demonstrations have gained a familiar rhythm since tens of thousands of Algerians first took to the streets on 22 February. Thousands of students turn out on Tuesdays and there are larger protests each Friday.
Donald Trump has had several press secretaries since taking office in 2017.
His first, Sean Spicer that he will be a competitor on the next season of ABCâs Dancing with the Stars. Spicer was followed Anthony Scaramucci, whose latest feud with the president has lasted longer than his employment as White House press secretary.
NEWS: @SarahHuckabee is joining the Fox News Channel as a contributor.
She'll be making her debut September 6 on Fox & Friends.
Senate Majority Leader Mitch McConnell is imploring Democrats not to eliminate the filibuster â a procedural rule that allows the minority party to stall or block the chamber from voting on legislation or a nominee.
âIf future Democrats shortsightedly decide to reduce the Senate to majority rule, weâll have lost a key safeguard of American government,â the Kentucky Republican writes in an op-ed published in the New York Times. âAnd â stop me if youâve heard this one â theyâd regret it a lot sooner than they think.â
HOLY MOLY. Mitch McConnell just wrote an NYT op-ed urging Dems to keep the filibuster, and threatening them if they scrap it. This is how you know it's a *really* good idea to scrap it - Mitch is scared. https://t.co/D4brQJsFqX
There have been more than 72,000 fire outbreaks in Brazil so far this year, up 84% on the same period in 2018, according to the countryâs National Institute for Space Research. More than half were in the Amazon. It followed reports that farmers were feeling emboldened to clear land for crop fields and cattle ranches because the new Brazilian government was keen to open up the region to economic activity. The Brazilian president, Jair Bolsonaro, instead accused environmental groups of starting fires
We members of the G7âs Gender Equality Advisory Council are urging countries to ditch archaic and discriminatory laws and promote empowerment
The sheer tenacity of women raising their voices and organising for fundamental change has been, and will continue to be, the driving force for achieving womenâs rights and a gender-equal world. Yet we cannot ignore the fundamental role that governments can play in either promoting or thwarting change.
That is why the four of us accepted French president Emmanuel Macronâs invitation to join 32 colleagues to form a G7 Gender Equality Advisory Council. On Sunday, we will present the culmination of our work; a package of recommended laws focused on ending gender-based violence; ensuring inclusive, equitable, and quality health and education; promoting the economic empowerment of women; and combating discrimination, ensuring full gender equality in policies and public life. In each area we point to laws from around the world that illustrate the type of action countries should take.
Nigeria marks three years without a wild polio case, meaning Africa could be declared free of the disease in 2020
Africa is on the verge of being declared polio free, after three years without any recorded cases of the disease, according to the World Health Organization (WHO).
Nigeria marked three years without a wild polio case onWednesday, a âmajor milestoneâ. If no more incidences emerge in the next few months, Africa could officially be declared polio free in 2020. The last case was recorded in Borno state in August 2016.
Corruption watchdog accused of promoting âtoxicâ workplace culture that silenced critical voices
Anti-corruption watchdog Transparency International has been accused of promoting a âtoxicâ internal environment of bullying and harassment, making it the latest high-profile charity to come under fire over its workplace culture.
Seven current and former staff members said the organisation had âfailed in its duty of careâ to staff. They accused managing director Patricia Moreira of promoting a culture that enabled âbullyingâ, silenced critical voices, and used âgagging ordersâ â confidentiality clauses in termination agreements. Leaked internal emails and documents including a staff survey corroborate their accounts.
Bombing believed to be linked to Timothy Mtamboâs role at forefront of mass protests over alleged rigging of elections
The home of a leading human rights activist in Malawi has been petrol bombed in what is believed to be a targeted move to stop mass demonstrations planned for next week.
Three bombs were thrown at the car and home of Timothy Mtambo, the chairman of Malawiâs Human Rights Defenders Coalition (HRDC), and the executive director of the Centre for Human Rights and Rehabilitation (CHRC).
Climate emergency and population growth blamed for deteriorating water quality, with âcocktail of chemicalsâ changing as countries become richer
The planet is facing a mounting and âinvisibleâ water pollution crisis, according to a hard-hitting World Bank report, which claims the issue is responsible for a one-third reduction in potential economic growth in the most heavily affected areas.
The study, which assembled the worldâs largest database of water pollution, assesses how a combination of bacteria, sewage, chemicals and plastics suck oxygen from water supplies and transform water into poison for people and ecosystems.
President outdoes himself in new press conference as he attacks the Danish prime minister, Jewish Democrats and the press
Donald Trump started off precisely on-message.
Strolling to the end of a White House driveway on Wednesday ahead of his departure for a veterans event in Kentucky, the president began speaking while still walking toward a crowd of waiting reporters. âSo the economy is doing very, very well,â he said.
Family of New York man insists âweâre not finishedâ after dismissal of Daniel Pantaleo, who put Garner in a banned chokehold
One thousand, eight hundred and sixty days after Eric Garner was killed on the streets of Staten Island, New York, his family finally received a sliver of justice.
On Monday, the New York police department (NYPD) commissioner, James OâNeill, announced the NYPD would fire Daniel Pantaleo, who, on that hot summerâs day in July 2014, placed the unarmed 43-year-old in a banned chokehold that contributed to Garnerâs death.
By cancelling his state visit to Denmark, the US president has again showed his thin skin
Donald Trumpâs abrupt decision to cancel his state visit to Denmark after it rejected his unsolicited offer to buy Greenland at a knockdown price took most people by surprise, not least his own ambassador.
âDenmark is ready âŠ Partner, ally, friendâ, tweeted Carla Sands, the neophyte US envoy to Copenhagen who was previously an actor and chiropractor. Hours later, it was off.
President could call snap election, seek new coalition or install caretaker government
âThis government ends here,â said Giuseppe Conte, as he announced his resignation as Italyâs prime minister on Tuesday. After almost two weeks of twists and turns, what happens next is far from clear.
The president, Sergio Mattarella, is now calling the shots in a crisis triggered when Matteo Salvini pulled the plug on the Leagueâs tenuous relationship with the Five Star Movement (M5S) in an attempt to capitalise on his popularity and become PM.
The US president said his life would be easier if he had not mounted a trade war with China but went on to say âI am the chosen oneâ to take on Beijing. Donald Trump said the US would probably make a deal with China
Large demonstrations and violent protests have taken place across the Indonesian provinces of Papua and West Papua. On Wednesday, Jakarta said it was sending a further 1,000 security personnel to tackle the unrest, sparked by the arrest of Papuan students in the Indonesian city of Surabaya. Indonesiaâs communications ministry cut the internet to its most eastern province on Wednesday âuntil the atmosphere of Papua returns to being conducive and normalâ. Jakarta has battled an independence insurgency in the region since it was incorporated into Indonesia in 1969 after a widely discredited UN-sponsored ballot
The US president has renewed his attack on four Democratic congresswomen who have been critical of Israel, and reiterated a longstanding antisemitic trope implying that American Jews had divided loyalty to America and to Israel. Over almost 24 hours he has repeatedly described Jewish Americans who vote for Democrats as showing 'either a total lack of knowledge or great disloyalty'
The US president has said his administration is looking at ending the right of citizenship for US-born children of non-citizens and people who entered the country illegally. 'We're looking at that very seriously, birthright citizenship, where you have a baby on our land, you walk over the border, have a baby â congratulations, the baby is now a US citizen ... It's frankly ridiculous,' Donald Trump told reporters
The Brazilian president has said NGOs could be burning down the Amazon rainforest to embarrass his government after he cut their funding. Bolsonaro had no evidence but said 'everything indicates' that NGOs are going to the Amazon to set fire to the forest
The Danish prime minister, Mette Frederiksen, says she is 'disappointed and surprised' by the US president's decision to cancel his state visit after she dismissed suggestions of selling Greenland as 'absurd'. Here's a look back at what drew the US president to want to make the âlarge real estate dealâ and the strong reaction to his suggestion
RELATED ARTICLESNo More Lists To Remember
Are the endless lists of Top-7's and Top-10's taxing your brain and your memory? Do you ever feel like trying to keep all these ideas straight, let alone apply them properly at the correct moment in time an overwhelming chore? How often do you find yourself having to review these lists? Perhaps endlessly until the next list comes out and then it's back to square one again.Wouldn't you rather live, work and be spontaneously effective, without having to pull out your "how to" lists? Just imagine for a moment beng able to live this way.
The Lazy Person Secrets To Overnight Wealth And Fame
There are so many simple, yet really sure-fire ways of acquiring wealth, it's a wonder everybody with even the least bit of ambition isn't already rich. When you come right down to it, the only things needed for anyone to make bundles of money are the long-range vision and the energy to put a money-making plan into force.
Famous Business Strategies
Either simply a looker-on or a player in the world of business, you see millions piling into the accounts of world's most famous businessmen and naturally the question pops "How?", wondering what is the alchemy they've discovered? Yet, there is no magic here - it's mostly pure strategy. And what it takes to spot it and make it real.
I WANT IT NOW - 10 Tips for Freight & Drayage at Trade Shows
Gas prices continue to go through the roof and increased
transportation costs will increase trade show costs across
the board.Here are 10 Tips for saving time, money and your sanity.
Your Leadership Shopping List
'Tis the season to give. And finding the right gift to give the people on your team can be challenging.
Ten Tips for Effective Meetings
Here are ten things that you can do to hold more effective meetings.1) Avoid meetings.
Ten Tips on Delegating Work
One way to manage your time more effectively is to delegate work to others on your staff or to contract workers you hire for specific projects. How often I hear such comments as, "It takes too much time to delegate.
Managing Your Major Sales - 7 Steps That Could Change The Way You Pursue Business
Ever lost a sale you thought was in the bag? Not an unfamiliar feeling for many businesses large and small. No matter how good you think your product or service is, everything finally boils down to your ability to convince others that it is good for them.
Learn to Improve Sales - 10 Ways to Get More Business Starting Today
You need sales and you wanted them yesterday. Here are ten ideas to start those sales pouring in.
Sales Marketing: 10 Tips On How To Promote Yourself And Generate Sales
A lot of people are insecure about buying something
or doing business with strangers.To make people feel comfortable to buy from you or do
business with you, give them a little information about
yourself or business.
How To Eliminate Your Competition Without Bloodshed
So how do you eliminate your competition without bloodshed? You must create a niche for your business. A niche is something that makes your business different from your competitors.
How To Use Bartering To Gain An Advantage Over Your Competition
If you have a business on the Internet you should be bartering goods and services with other businesses. You should always try to trade for something before you buy it.
After Hurricane Katrina - Seven Things You Can Do
If you are like me, you are living some distance from the devastation wrought by Katrina. If you are like me you not physically impacted and can watch the plight of others on television in the comfort of your home.
The Warning signs of Online Fraud and How To Avoid It
The number may seem grim for Web-based commerce. In 2004 in the Unites States alone, computer users logged in more than 207,000 Internet fraud reports to the U.
Top Ten Tips When Business is Slow
How's your business going to keep growing with the holidays just around the corner? What can you do when most people don't want to spend money now?If you are concerned the cash flow won't flow and you won't have enough income for the next months, check out these ten tips:1. Create written copy to email your subscribers and other email lists.
Home Furnishings in India : How to Find an Exporter,manufacturer or Supplier ? Beyond a Database.
Looking for a manufacturer or supplier of home furnishings in India ?Don't know where to begin? Want to find a source but at a loss for resources? Want to do business in India, but unsure what is the best way to go about it?This article attempts to answer some of these questions.Firstly,unless you have a link in India, you will find it a difficult task to sift through the information available on the Internet.
Top 7 Reasons You Should Back Up Your Data Online!
How much is your data worth to you? In this modern electronic-age we rely more than ever on our computers to supply us with the information we need. Chances are every piece of data you might ever rely on to make an important decision has been reduced to a digital format and resides somewhere on your computer's hard drive.
Increase Business Profits - Ten Ways
How do you increase business profits? Answer the following questions carefully, and you'll have a good start.1.
Surviving When Clients Arent Rolling In
As the holiday season starts to settle in, the workload for many Micro-Businesses can slow down.Service-based businesses in particular consider this a slow time of the year.
The Top 10 Reasons Businesses Succeed
Only one of every 5 businesses makes it to its 5th year, and fewer still make it to 10 years. What do the successful businesses have in common?1.