How can I create cash fast?Mar 15, 2023
Are you singing that catchy JG Wentworth jingle?
I would love for every business to have cash reserves set aside, as well as a line of credit established at their bank. Businesses can ebb and flow and sometimes cash gets tight. It’s nice to have a plan in place for when this happens.
That’s not always the case though. So how can you create cash fast if you don’t have a cushy cash reserve or line of credit available?
I’ve got three recommendations for you:
- Send reminders out for receivables. The first thing you want to do is collect on any services that you’ve already performed.
- Run a sale. I had a client run a flash sale in January (which is historically a slow month for them) and they had the best revenue month in the history of their business.
- Create a quick offer. For example, you could create a one time webinar outside of your normal services.
Again it’s always best if you can prepare in advance and be ready if cash gets tight. Creating a forecast and planning out your cash flows is really important for your business.
Need help with cash? I’ve got you covered.
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