Sunday's & Business

Profitable, Yet Low on Cash

June 25, 2023
minute read

Happy Sunday! Welcome back to SUNDAYS & BUSINESS, This week features Yechiel Steinberg, CPA from SmartPoint Financial with 3 easy to implement tips for companies that are Profitable, Yet Low on Cash.

Accelerate your cash inflows.

Invoice promptly and shorten the payment terms you provide to your customers. If you receive pushback, provide a small discount for early payments. If your company sells inventory, ensure you don’t overstock more than what is necessary to meet your immediate sales needs.

Decelerate your cash outflows.

Hopefully, your vendors don’t have cash flow issues, so take full advantage of their payment terms and pay as late as they allow. Additionally, analyze your overhead cost thoroughly and eliminate whatever is unnecessary. Search for lower-cost providers for whatever is necessary.

Take out a loan.

Cash flow struggles within a profitable company are usually due to timing, cash outflow happens prior to cash inflow. If all of the above is not enough to bridge the gap, apply for a line of credit to use until the company generates enough extra cash on its own.

We hope you found this week’s episode insightful and helpful.

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Have a successful week ahead!