How to increase cash

51 ways to reduce costs and improve cash flow.

Note: This article was originally written in 1994, today announced the results of the assessment. (Management and market assessment), in a recession, but these skills are useful, it is to retain our license print ...

Identification of the management of business information? To order our newsletter or tape, to repeat our products. For our article, to business skills.

When business is strong, we sometimes forget the economy. However, we all remember the "good" in the mid-1990s, the assessment of the economic recession, you do not want to be disturbed "what" if your cash crisis is that if you are doing is not reduced. Spend some money to your pocket or not.

Accurate assessment of a company using all from one company to Fortune 500 companies are two main rules:

1, payment for your services only when due.

2, access to your income as soon as possible.

Fortunately, it is the most variable cost assessment. For example, if you reduce the work, image processing and evaluation of the amount of your wages reduced. However, if the fixed costs of rent and staff can lead to financial difficulties, the assessment task. Off quickly.

Cash management.

1, no pay before their time. Do not pay any fees, unless they are due. Who pay late and those who did not. Check on Friday to take advantage of the advantages of the weekend, "floating."

2, the exercise of dormant lines of credit. Business owners tend to set up a line of credit, they do not use. Bank may require your credit card if unused for a long time, so be sure to check their use, if they spend 1% of the year, many business owners to consider. Line of credit. But remember the rules of banking. If you really need the money, you may not qualify for loans.

3, if you do not have a credit line, set up a present. Check around for competitive prices. It is cheaper to use credit cards, if you are a real cash flow squeeze.

4, close inspection of all three sources of cash.

- Assessment process is not complete.

- Assessment of billing issues. But not yet collected.

- Billing and Payment: cash on hand.

5, complete the assessment and collection as soon as possible. As long as their bills it as soon as they pay. We are trying to "make work pay for it", but a delay in payment. Your bill. If they do not assess, they will not pay.

6, linked to the cost of your assessment, high isolation, if they are willing to pay to wait until you buy an evaluation. This policy can help cash flow problems as the estimated percentage of labor costs.

7, as a very positive overdue accounts, such as mortgage brokers, especially non-US companies. Mortgage brokers are expected to be out of business, are mortgage bankers and brokers who have cash flow problems, they will pay late. You do not know. Collection of the "squeaky wheels get grease." Calls every day, if necessary.

8, the establishment of a "sweep" accounts, non-interest bearing checking or savings account on a daily basis to make your money interests. Although two or three per cent interest rate than nothing.

9, for pre-paid, or is likely to be commercialized. Necessary, to provide discounts. Pay for private customers or companies, may lead to early payment. If they will not pay in advance, or COD, refuse to work is not free of work.

Lease - Office and store.

10. Lease negotiations, to reduce the rent or rent a temporary reduction in business is slow. If the vacancy in the office, like where the landlord may rent.

11, sublet office space, is not used in the assessment or valuation. Or move your office space is large with a small office sublet June 1994 View the article is about the sharing of office space.

12, or if you want to move down to a smaller office. Lease with the landlord. Perhaps he or she will let lease, you will pay the remainder of the lease, or move to an area, most of the country in the small office market is not good, and homeowners. Willing to negotiate. Negotiations for a compensation-type mobile phone, and improve your doing and some owners to pay power. It may not be available when you move.

To 13 days. "Return home" and the work of park, or even a spare bedroom, dining table. If you think it is too narrow, that this is only temporary, until the business recovery.

14 stores in the surrounding area to keep costs low. We want to save the file and at least five years longer most of us to save them. How to keep and throw in a separate file for each decision. However, you can shop. For storage costs.

15, to get rid of the excess is stored as the old office furniture. Sold or given away. Do not pay for something you really do not need storage costs. A packrat.

Pricing.

16, followed by the cost of your competitors. Do not cut or lose their jobs, because the price is too high. Or when changes have not been abandoned, lost the bid has been assigned the value of income is too high or underbidding.

17, do not provide prices to customers who are not sensitive to low prices. Why give up your profits? Not everyone is assigned to the low bidder. Some people do not even provide a competitive price.

18, to know the cost of the assessment. High fees may not be the most profitable. This may be more profitable to set up in a geographical area of ​​travel time than other appraisers partnerships, and to do more research in the field with you. Not familiar with.

Fees and publication.

19, the organization, you will pay the fee for each review. Do you really send your hands or the cost, because "you always have", you can join later, when business improves, if you think it be a crime.

20, from the published application. If the release does not really help your business, consider the non-renewal.

Personnel

21. Cut back salaries, the teachers. Pay all other costs, although this may seem obvious, many companies have experienced serious financial problems, because the owners to maintain a generous salary.

22, "lease" your employees. Rather than later to hire an experienced secretary to provide him or her to another company until the business recovery.

23. Use of temporary help as much as possible, when your business is greatly increased. This is the mortgage industry, in 1991-1993 and significantly increase the loan amount. They first let go of temporary workers and permanent employees.

24 part of the support staff - they do not want the interests of time, and often have more flexible hours. Layoff or reduction of part-time full-time employees than long-term loyalty of time.

25, a cost-cutting ideas with colleagues and staff to assist you. If you are working alone, the establishment and business owners, accounting or other assessment of lunch, share your thoughts. You never thought you could get the idea before.

26, one person at the seminar, and then later the "show and tell" of their rest. For example, we are hoping to find the new changes will USPAP E, but the expensive seminars. If any one person. "Small Talk" for you to rest, and your own.

27, the local participants not only to eliminate the travel expenses. If you want to be out of town seminar a sponsor and see how it will be local. Or you can buy tapes or videotapes.

28. Use of services such as Paychex or ADP pay cuts or wage costs account for it by using a simple software program, such as January, themselves. Do not use a CPA to do your account.

29, the responsibility of the staff. For example, do not return, and not with your secretary's account. If you have a secretary, a full-time employment fell, because of your work, consider the part of the evaluation of the experience - paperwork at least they have some income. Not to do with the staff to do janitorial services and delivery. Or worried about unemployment than the surrounding unemployment sit.

30. Reduce the set, such as "canteen", such as health insurance and paid leave benefits of non-cash compensation benefit plan your FICA and Futa.

31 To co-cultured in college or the students - research operations, the establishment of a database, such as a credit card or pay less of their work and the work of the short-term specific projects or general. And research.

32 free or low-cost and consultancy to schools, colleges, small business advice or SBA (Senior Executive Retirement) The scheme of local businesses, they can provide advice on various topics. Marketing, collection and accounting costs.

Insurance

33, make sure you are not wasting the money of the workers' compensation. How to assess your organization? They will have a relatively low risk of claims, should be used as a real estate agent or some other type of comparison to ensure that it is very expensive category. If your insurance company in the classification category on the high insurance rates that they adhere to the changes. This year, the competition is the employment of workers in the previous year, must notify the insured person's salary this year is expected to decrease.

34, if you have a typewriter to produce high, we must reduce repetitive stress, in order to avoid increased workers' race pace, if one of them is disabled. Contact the carrier of workers' race.

35, take a look at your car insurance. Consider the collision with the old version. If the car is only worth $ 1,500, I want $ 200 per year for the collision?

36. Increase in vehicle collision coverage deductible, a place, service disabled / damage and liability insurance. For example, disability insurance "kick" in 90 days instead of 30 days.

37. Assessment of risk / benefit profile of all their insurance policies and decide which you think you will really need. Not overinsure.

Tax

38, do not pay income tax quarterly. If you want your taxable income will be reduced this year, do not pay this year's tax revenue. Work with your account to pay a more accurate estimate of quarterly. If you have to pay more quickly for the quarterly return forms 1138 and 4466 you are using you.

Nearly 39 years - will end tax planning meeting with plans to change your account your income and expenses. For example, changes in the coming year to reduce taxes this year.

Office equipment

Shop 40. To get the best price. Note that not too much to get a discount. You see, the bottom line. Do not pay full retail. The group's equipment purchases may be worth it.

41, warehouse clubs, such as corporate office headquarters. They often offer the lowest price. Many people will be provided. Do not forget the price clubs, discount stores, Wal-Mart - Wal-Mart and Costco a lot of people buy some office equipment such as ink, paper, pens, and the LaserJet, you never have to buy a brand name.

42. Followed by inventory, so you do not have to pay someone to "run over" to a nearby high-priced office supplies store.

43. Locked container supply. Yes, this will lead to complaints. Explained, making it more clean, you are less likely to run out of material.

44 instead of using the U.S. mail, fax, as long as possible. This is cheaper and faster.

45, the first draft of your paper to cut costs back to the old copy.

46. Off "after it" is a small plate to be used for marking pages. Image processing you do.

And mobile devices.

47. Sale or donation of surplus office furniture and equipment. Storage is expensive. You can sell it to employees, the public or the seller. (Consignment). Donated to local charities or schools.

48 equipment leasing program. Be eliminated due to the closure or merger. Not "command evergreen" contract remain, unless you 30 days advance notice, they are difficult to remove the expiration date. Difficult to detect.

49. Negotiating lease your equipment. For example, a small photocopier. Maintenance contract is shortened, for example, reducing the size of the document if you can reduce maintenance. If you really need all of your service contract. Perhaps it is best to have a pay service on an ad hoc basis.

50. Cutting telephone lines. If you have less than you need to dial down. Delete functions, some are optional, you do not really need.

51, close long-distance telephone and fax. If you are at 5:00, only 2:00 on the west coast of the east coast to west coast. On the contrary, on the west coast to the east. Call before 08:00 coast.