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Here is a quick list of seven ways to manage cash flow better according to Inc.:

  1. Evaluate Current Cash Flow — Achieving a positive cash flow is an intentional effort that doesn’t happen by chance.”
  2. Tighten Up Net Terms on Invoices and Late Fees — If your net terms are 45, 60, or 90 days out, it’s time to re-evaluate.”
  3. Set-up Automatic Payments for Customer Invoices — Getting customers set up to pay by credit card, especially for recurring fees, is a great way to ensure timely payments.”
  4. Get the Best Terms on Invoices Owed — Get to know your vendors and negotiate the best terms on invoices you owe, with the longest possible timeframes.”
  5. Avoid Shortfalls by Having Reserve Cash — To save some reserve dollars for a rainy day, be sure to look at your cash flow forecast as well as how you budget spending.”
  6. Require Deposits for Services — Deposits for the kickoff of a project or service are a helpful way to provide a, albeit smaller but steady, flow of incoming cash.”
  7. Develop Key Performance Indicators (KPIs) for Cash Flow — An example here is tracking the average days outstanding in Accounts Receivable in which continued improvement over time will increase cash flows of the business.”

Source: https://www.inc.com/shama-hyder/7-expert-ways-to-better-manage-cash-flow.html?icid=hmsub4

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