What’s overhead? Not just the roof. For a small business overhead is usually the debt hanging over the small business owner’s head. Actually, overhead is the ongoing general cost of running your small business, and can include items like the cost of carrying inventory, office supplies, payments on equipment, and the cost of service providers like accountants and lawyers.
In the last few articles I’ve discussed ways small business owners can increase their cash flow into the business, by converting accounts receivables into cash. In this article, I outline four ways to decrease your company’s overhead. These simple solutions can help your business preserve cash, and stay solvent.
In my last blog post I talked about three simple ways to improve your small business’ cash flow, including prompt billing, avoiding slow and no-pay customers, and asking for your cash sooner.
Now I have three more ways you can increase the cash flow. More specifically, these methods help you turn accounts receivables into cold hard cash that your small business can use today.
3 More Ways to Increase Cash Flow Into Your Small Business
Some of these cash flow strategies may take a little time to set up, but you’ll find that the resulting positive cash flow will be worth the effort. By implementing these strategies, you’ll be joining the thousands are small business owners who are looking at resourceful ways to get paid sooner.