For start-ups, maintaining the company's cash turnover is the most important task. Here are a few ideas that will help to do this.

The biggest (and most common) mistake of beginning entrepreneurs is that they prefer other goals, rather than managing cash flow.

Of course, it is also necessary to devote time to the development of your brand and increase sales, but it is also extremely important to quickly create a constant flow of finance, which accountants call "free cash" - the amount remaining in the company after paying all costs. In the end, if you do not have money, you will not be able to hold out long enough to attend to other problems.

If possible, leave 10-20% of the monthly income in the company, because at this stage you, like many other companies, this will allow you to invest in the development of your business. With this money, you can buy additional goods or services to attract more suppliers or even to create your own team of employees.

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These five rules will help you maintain a constant cash turnover of the company:

Know how much you spend. Although discounts - which, for example, provide sites such as Groupon or BuyWithMe - can help you attract customers, but selling goods below their cost does not help you to go into a plus.

Do you know what I think about this? Never make a discount. And if you do, know how much it will cost you and what damage you will incur, and do not forget to prepare for negative consequences. In addition, you must know the general basic price of goods, that is, the amount you paid for them. Also, you need to consider how much you should price in the ideal, that is, the cost of your offer and the amount of profit that you will receive from the sale of your product and service. How else do you realize that you are working at a loss yourself?

Sell goods together with services. Discounts, of course, are not always recommended, which can not be said about the added value. For example, the sale of goods together with services can significantly - and even significantly - increase the value of the company's goods without serious costs.

A good example is the maintenance contracts that some car manufacturers offer when buying a new car. Such a proposal not only helps to eliminate all problems of customers related to repair costs or loss of time at the dealer center, but also offers a real cost in the face of a shortage of cash to pay for maintenance costs.

Simply put, you can immediately increase your standard prices, because due to the fact that you offer some basic service, such a guarantee, the risk for your buyer will decrease.

Increase the cost of subsequent products and services. If you know that your initial proposal, designed to attract new customers, will not bring you profit, try to find an opportunity to increase the price for subsequent services or goods. For example, the first hour of service at the banquet will be free, but the price of the subsequent will increase noticeably. Or, when, for example, a lawyer agrees to make your will less expensive if he thinks that in the future you will need his services when planning inheritance.

Make sure that your customers return to you. If your profit depends on the number of goods sold, such as retailers, regular customers are the best source of your money turnover, profit and development. In most cases, earnings from customers are possible only after a third, fourth or even fifth transaction. That's why you need to focus your efforts on attracting regular customers. And the more often they will have something to buy, the better.

Pay attention to loyalty programs, VIP-offers and other programs for regular customers, which will help you to constantly make repeated deals. Also remember that the word "free" is a great incentive for buyers, so the cost of free products will quickly pay off, as you will sell off redundant or cheap, but good products.

Sell services and goods that are not yet available. Businessmen who want to stimulate sales can sell goods or services that are not yet available. You can position the pre-sale as an opportunity for customers to plan their purchases for the future and determine in advance the goods. You can also offer to return old, overdue goods at a predetermined price.

Published by Calida Jenkins