Need to Quickly Improve Your Cash Flow? Here’s Help

The economy is improving in baby steps. But that may not have had an impact on your business yet.

If your small business is still struggling with cash flow, never fear, there are some quick and creative ways you can improve just by making a few tweaks in your  business.

I have recently published a new quick read book that can help you solve some of those cash flow problems. It’s available in Amazon Kindle format (you don’t need a Kindle to read it — just get the free Kindle reading app here).

In this book, you will learn eight creative tactics to get your cash flow moving in the right direction. Here’s a sneak peek:

  1. Don’t Be An Invoice Laggard
  2. Plastic Will Make Your Cash Flow Faster
  3. Get Paid In Chunks
  4. A Steady Paycheck Will Even The Flow
  5. Double Up With A Joint Venture Partner
  6. Keep The Dust Off Your Receivables
  7. Focus On The Red Corvette
  8. Forget Crystal Balls, Use a Cash Flow Budget

Michelle Dunn, credit and collections expert for small business says:

“This is a short little book but it is really full of new, helpful information that can help you improve your cash flow in this new economy – a must read for any business owner looking to protect their cash and their business.”

In addition to the eight ways to improve your cash flow now, I’ve included the transcript (and some really tough questions for you to ask about your business) of a Cash Flow Summit I led with small business cash flow experts Philip Campbell and Caroline Jordan. And, you get the MP3 recording of the summit for free once you have the book. Here’s what we talked about during the summit:

  • The Causes of Small Business Cash Flow Problems
  • Dealing With Payment Deadbeats
  • Ya Gotta Be A Marketer or Your Business Will Have No Cash Flow
  • Pricing Can Make or Break Your Company
  • Avoiding the Payables Death Spiral
  • Get Ahead of Your Cash Flow With Budgets and Forecasts
  • Three Quick Tips to Get You Moving In The Right Direction

There are a ton of tips and value inside this short book that can help you improve your cash flow — now. And for a limited time, I’ve priced it at an insanely low 99 cents. Yep, it will cost you less than a buck. That’s a pretty cheap investment to get quick improvement in your business.

Click here to get your copy of Pump Up Your Cash Flow Now! 8 Quick and Easy Ways to Improve Your Bottom Line

Thank you in advance. :)

10 Ways to Reduce Stress During Tax Season

Tax season can be gruesome if you are constantly stressed out while trying to get all of your financial information together for the IRS. It doesn’t have to be this way and can actually go quite smoothly. Instead of waiting until midnight on April 15th to finally file your taxes, here are a few tips to prepare in advance and reduce the stress during tax season.

1.Be prepared – You know April 15th is coming. Every year it happens on the same date; 4/15. Keeping in mind that tax time is right around the corner will help to reduce some of that stress because you will be more prepared when it actually arrives.

2.Keep good records – Right along with being prepared, is keeping good records. Keeping your records organized and exact on a daily basis, helps keep you from stressing over the deductions you have been missing.

3.Start early – Starting at the end of January will always reduce the stress of tax season. Starting on April 10th, however, will most likely do the opposite.

4.Finish early – Even though you started early, in your effort to reduce stress, finishing early is another big component. If you start early, but put completing your tax forms, it will make it even more stressful.

5.Stay on task – Studies have shown that sticking with a task will reduce stress and also allow you to finish it up faster than if you tried to multitask. Decide to finish what you start instead of being distracted by another task.

6.Take breaks – Taking a short break every hour will help your body to reduce stress by staying loose. Taking a break does not mean sitting there at the computer and surfing the web. Stand up, get a cup of tea, look out into the distant horizon to relax your eyes, and breathe deeply. In other words, relax.

7.Double check – Once you have the weight of the world off your shoulders because your taxes are finally finished, you should probably double check to make sure everything is filled in correctly and signed. If you don’t take a second glance, chances are you will stress over that one thing you “know” you forgot to do.

8.Exercise – Getting up and moving around is good to get the blood flowing, but actually taking the time to exercise will greatly reduce stress. By increasing the oxygen to your brain by exercising your body, your mind will be able to focus on the task at hand.

9.Get professional advice – Getting a professional opinion on your tax return will greatly reduce your stress because you will have peace of mind that, in the eyes of someone who prepares taxes for a living, you have done everything correctly and in accordance with the latest laws.

10.Get a massage or facial – This doesn’t have anything to do with taxes, but it will reduce stress if you get a nice massage or facial. This is a great reward for yourself on April 16th, or sooner if you take the advise from above. Just imagine, while you are getting your massage or facial, how nice it is to not feel the stress.

While others are trying to beat the deadline, you’re being pampered. There is no better feeling than the absolute absence of tax time stress!

How To Pick the Right Accountant for Your Small Business

Picking the right accountant for your small business is similar to choosing the right doctor for your health care. You want someone who is skilled and qualified. Depending on your business, you may or may not need an accountant that is certified as a CPA — most small businesses don’t. When you choose a CPA, you are putting your financial security in the hands of a person who is supposed to be certified and up to date on every rule and regulation that applies to you and your business. So, how can you choose the right accountant for your business needs? Let’s take a look at a few items to get you started.

Interview Yourself

You need to find out who you are and what you want. Put yourself in your prospective accountant’s office chair. What will you expect from your accountant? What kind of things will be deal makers and deal breakers? It is a good idea to know who you are and what your expectations are before you begin the next step.

Ask Friends and Family for Recommendations

Friends and family are often a good resource, so why not ask them? Find out if their tax professional is taking any new clients or if they have time to give you advice. Be honest with them. If Uncle Al says his accountant is still using paper spread sheets, tell Uncle Al you need someone with a computer. Then move on to the next opinion. Get at least three good recommendations of accountants to interview. Don’t just ask friends and family for a recommendation, ask them why with a few tough questions like:

  • Why do you like using them? Be specific.
  • What kind of business advice and tax advice have they offered you recently?
  • Was their advice helpful in saving money?

Interview the Accountants

Twenty or thirty years ago, accountants were often considered bookkeepers. Today, they are much more involved with business rules and regulations and many have specified training in small business and taxes to help set them apart from other CPA’s. The trick is to figure out exactly what you should look for in an accountant.

What kind of questions should you ask your CPA to keep yourself out of trouble come tax season?

  • What kind of creative business advice will you offer me? – Sure they can crunch numbers but can they offer creative ways for you to save money now?
  • Is your business tech-savvy? Staying on the forefront of technology, as a business, is a great indicator of keeping up with the times. As technology is able to produce info faster, your CPA should be the first to know.
  • Who are your other clients? This indicates whether or not your accountant has dealt with businesses like yours and how busy they will be during tax time.
  • Are you active in the local business community? Can your CPA introduce you to people who can help make business changes they suggest?

Make Your Decision

After you have done some soul searching, asked people you trust for recommendations, and interviewed at least three accountants or accounting firms with the difficult questions you needed to ask, it is time to pick your accountant. Sit down and go over the qualifications of each accountant or team of accountants. Weigh all the pros and cons and come to a decision on who would be the best accountant to hire.

Don’t forget to write each accountant you rejected a simple thank you note with one or two reasons why you did no choose their firm. This will show them that, although you appreciated their time, your decision was based on specific facts. Don’t burn bridges – you never know when you could be back in their office. Most professionals appreciate honesty, so don’t be afraid to tell an accountant why you didn’t choose their firm.

Now that your accountant has been hired, it’s time to get to know each other. With the difficult part over, take a few minutes to visit your accountant and find out what he or she will expect over the year, leading up to tax time. Maintain a close relationship with your accountant and you, and your small business, will benefit nicely for years to come.

What other suggestions do you have? Please leave a comment.

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