Home » Managing Cash When You Havent Got Any: Practical Cash Flow Strategies for Small Business: Volume 1, Dealing with Vendors by Lori Schafer
Managing Cash When You Havent Got Any: Practical Cash Flow Strategies for Small Business: Volume 1, Dealing with Vendors Lori Schafer

Managing Cash When You Havent Got Any: Practical Cash Flow Strategies for Small Business: Volume 1, Dealing with Vendors

Lori Schafer

Published May 13th 2016
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 About the Book 

It’s common knowledge among business owners and accountants that properly managing cash flow is key to running a successful business, and you will find plenty of resources that address topics such as budgeting, figuring out what to charge, managing... MoreIt’s common knowledge among business owners and accountants that properly managing cash flow is key to running a successful business, and you will find plenty of resources that address topics such as budgeting, figuring out what to charge, managing debt, making the best use of excess funds, and ensuring that cash is available when your business needs it. These strategies are great for long-term financial planning and profitability, but rarely do they address THE PRACTICAL DAY-TO-DAY NEEDS OF BUSINESS OWNERS WHO ARE STRUGGLING IN THE SHORT TERM JUST TO SURVIVE.Because unfortunately, most of the people who write books on cash flow don’t live and work in the world in which you and I live and work. In our world, small businesses are barely making enough money to scrape by- they have no free cash, and often no ability to borrow more money. They cut paychecks with lumps in their throats, wondering if enough cash is going to come in in time to cover them- in our world companies wonder how many days they have until their suppliers cut them off all together, how long it will be before their contractors stop work because they have not been paid. For them every day is a struggle, every day is a fight to keep their business alive, yet they keep doing it because they know, they believe in their hearts that their company could be successful if only they could get through the cash crunch, if only they could somehow get through the rough times and on to the good.There are businesses, of course, which are doomed to failure, for which improving cash flow management only postpones the inevitable. But for the rest of us, GOOD CASH MANAGEMENT IS THE DIFFERENCE BETWEEN SUCCESS AND FAILURE, AND OFTEN BETWEEN SURVIVAL AND DEATH. And if your business is teetering on the line between a slow, painful survival and a slow, painful death, this series of books is for you.You’ll find no abstract theory here, no conceptual finance- instead YOU WILL LEARN PRACTICAL, REAL-WORLD STRATEGIES FOR MANAGING CASH WHEN YOU HAVE NEXT-TO-NO-CASH TO MANAGE. I honed these strategies myself over ten years of handling the finances of multiple companies that were at serious risk of going under during the recession. The failing businesses survived, the borderline ones thrived, and the reason was clear to us all – it’s because careful cash flow management really can turn around a desperate business, even when it isnt making enough money to pay its own bills and those of its owners.In this first volume of a five-part series, I will address the issue of DEALING WITH VENDORS. I’m not talking about setting up Notes Payable, or about figuring out how to borrow money at a low interest rate so that you can pay your suppliers, because if you’re reading this guide, chances are good that your credit cards are already maxed out and you’ll be able to wangle another bank loan when the dinosaurs come back to life. No, I’ll tell you HOW TO TALK TO YOUR VENDORS, what they really want to hear to keep your account going, how to ensure that you pay them just enough to keep them from cutting you off. I’ll tell you how to schedule outgoing payments so that they better fit your incoming cash, and how to compromise with your vendors so that your payment schedule meshes better with theirs. I’ll explain the CRUCIAL IMPORTANCE OF HAVING A CASH MANAGEMENT PLAN and how having such a plan will ease the fears of your creditors even when you’re unable to pay them in full or on time. Finally, I’ll address how BIG PICTURE STRATEGIZING of your expenses and Accounts Payable can improve your cash flow, drastically reduce collection calls, and decrease strain on company personnel, making your business run more pleasantly as well as more successfully.