MindSpark Live - Stabilizing Business Cash Flow Through Unstable Times

MindSpark Live Series |Enjoy a lunch hour on key small business topics for the current and prospective small business owner.

• 1st Wednesday of each month, 12pm -1 pm
• From marketing and sales to planning and operations, the MindSpark sessions were created to address relevant small business needs in today’s economic climate.

September 7 | Stabilizing Business Cash Flow Through Unstable Times

Developing a financial strategy is important so that you can survive the short-term cash crunch while not disadvantaging your long-term profitability. Think creatively by doing things like encouraging customers to purchase gift cards or future services from yours and others small businesses to keep cash flowing in your local economy. Find ways to preserve on-hand cash that will be needed for the lean months in the near future and consider suspending expansion initiatives or larger investments until markets stabilize. Evaluate your inventory to determine if there are products that can be quickly turned over. In other words, business as usual will not work. Creativity and positivity will be essential elements to keep cash flowing into your business.