4 Small Business Cash Flow Must-Dos

[@eric_martindale1711]

Common challenge for all of us, but especially so in an inventory-based business. I started using a pay factoring company about 18 months ago, and despite the costs, it enables me to sleep again. Cash comes every day now at the push of a button.

[@DaveCrenshaw]

Great move, Eric! The extra cost is often worth it when we get more time back in return.

[@zachchamp93]

Dave Crenshaw da 🐐 no 🧢

[@msgreen512]

I can't believe l just found your videos, your techniques are huge golden nuggets! Love the vest and tie.👔

[@theretailbusinessownerstribe]

they are great indeed!

[@mohamedelhag7778]

Number 4 is a business life changing tip.. Thank you

[@DaveCrenshaw]

You're welcome, Mohamed! I'm glad you found that tip so helpful!

[@SherifaNakalema]

I like your tips on cash flow and the way you presented them Dave. I was already applying them though. Good channel. Subscribing.

[@DaveCrenshaw]

That's great that you're already applying them, Sherifa! Good for you! Thanks for the feedback and becoming a subscriber.

[@mindset2billions663]

Thank you for this information

[@Nedecha]

Thank you for this video, very helpful!

[@DaveCrenshaw]

You're very welcome, Chadene!

[@praveenprajapati1397]

Thanks 😊 sir 👍

[@DaveCrenshaw]

You're very welcome!

[@e_entrepreneur415]

No trade,, receive fast, pay slow, waterwheel (conti uous sales)

[@DaveCrenshaw]

Great summary. Suzy3maG!

[@PreeminentbrandsNet]

Tip 5 Stop cutting your prices for cheap ass customers

[@DaveCrenshaw]

I agree. Cutting prices based solely on price-competing is not a good business decision.

[@davidpieropan6242]

This is a good cideo

[@andreasdharmawan6353]

Hi, thanks for the education I don't really understand point 1 When u mentioned no trades, do u mean businesses should not buy an item, and then directly sell it? Why? Is it bcs u pay an item by cash then selling it on receivable terms then causing longer cash on hand? Do u mean businesses must produce/manufacture their product? I'm a bit confused.. how about distributors whose job is "buying then sell" products (although there are some logistics n warehouse going)? OR do u mean businesses shouldn't trade their products with other companies product without any cash payment involved? Maybe anyone could help clarify.. thanks!

[@DaveCrenshaw]

Your second option is what I meant by "no trades." Use cash payment. Avoid barter. Thank you for asking your question!

[@safeermoh1819]

thanks for your great message

[@DaveCrenshaw]

You're welcome, Safeer!

[@safeermoh1819]

Dave Crenshaw Hi , hope you doing well . could you please give me your Email.

[@kimtumalad4427]

Thank you for this video!

[@DaveCrenshaw]

Hi Kim! You're very welcome. I'm glad you enjoyed it.

[@_sonicfive]

Using credit is bad advice 90% of the time. I understand it buys time. But most people use credit to pay for things they don't really need. Instead I would say: Justify every dollar spent.

[@DaveCrenshaw]

I believe every business has unique needs, so I won't say it's good or bad. It's simply reality. I do agree that every dollar spent should have a reason and plan. For most companies, credit is a necessity of doing business. When I speak to Fortune 500 companies, they will always expect payment terms after I invoice them, typically of net 30.

[@farichahidayati673]

thank you for the tips

[@DaveCrenshaw]

You're welcome, Faricha!

[@josephjose8441]

Hi Dave, did not understand the first point " Stop Trade " - what does it mean?.... Is it some Business Management term... Tried looking it up also couldnt find it . Can you hep me understand?

[@DaveCrenshaw]

Hi Joseph. Don't exchange product or services in direct exchange for other products or services (i.e. letting a restaurant pay you with food for your consulting services.) Always use cash/check/or credit card payments. You may know it as "barter." Hope that helps!

[@lifesgoodeveryone5407]

I own a franchise and they went up dramatically on the price of our food which throw away more than half of our customers so I'm kind of stuck trying to figure out where can I make that up at or should I just go back to the price that were set before the price increase because we had a lot of customers

[@theretailbusinessownerstribe]

it depends... have you projected both scenarios? :)

[@sherlockhomes221b]

A good video. I'm into Food Cafe business, please suggest some good tips for business growth and increasing sustainability and profitability.

[@DaveCrenshaw]

Hi, Amol. I would recommend reading my book, The Focused Business. You can find it at DaveCrenshaw.com/tfb. I hope this helps!

[@pacebeazy7584]

What do you mean pay slow? And net 30 🧐

[@DaveCrenshaw]

Net 30 is a payment term that means you pay it within 30 days of the invoice date. It gives you more time to pay, which helps boost your current cash flow. Take as long as you can legally and contracturally wait to pay, without it resulting in penalties.

[@pacebeazy7584]

Dave Crenshaw cheers! Figured it out discussing with my wife. And thank you for replying. I’m opening a barbershop in August so I’m learning all I need to learn and it’s overwhelming lol but good to know

[@DaveCrenshaw]

@@pacebeazy7584 Congratulations, Pace! That's wonderful. I wish you the best of luck!

[@Me27399]

Ne tips for a pharmacy owner? I'm about to open a pharmacy in a great location n would appreciate any help I can get

[@DaveCrenshaw]

Market research, networking with others in your industry and having an excellent CPA to handle your finances are all very important for a new business. Also, for business owners, having solid systems in place are essential. Check out my courses here: davecrenshaw.com/learn.

[@custardtart1312]

Hey fabulous video, I’m new here. May I ask what you mean by no trade? I’m from U.K. so not sure I fully understand what you’re suggesting NOT to do! As it may be terminology differences. (I’m starting a wholesale distribution business, buying from a manufacturer and selling to retailers)

[@DaveCrenshaw]

Hi Custard. Don't exchange product or services in direct exchange for other products or services (i.e. letting a restaurant pay you with food for your consulting services.) Always use cash/check/or credit card payments. You may know it as "barter." Hope that helps!

[@DjLatelle]

I feel like paypal holding onto my business money is just taking forever to make the money available to us, what do we do.

[@DaveCrenshaw]

Hi, Esther. You may want to look into alternative options for receiving payment that better fits your needs. There are numerous options available to business owners today!

[@shahbaazkhan733]

"No Trade " . what u exactly mean by that?

[@DaveCrenshaw]

HI, Shahbaaz! No trading services, meaning exchanging services or goods with no cash involved.

[@renatowgomes1]

@@DaveCrenshaw permutation, right?

[@lumina_glitch]

@@DaveCrenshaw "NO TRADE"...🤔 You mean barter, right??

[@DaveCrenshaw]

@@lumina_glitch Yes, barter is another term for trading services or products directly.