What do people do if your business has not generated enough for the month?

Discussion in 'Cashflow forum' started by majordan, Sep 27, 2018.

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  1. The Byre

    The Byre UKBF Ace Free Member

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    This is a real 'Business 101' (as Americans say!) i.e. basic stuff (and a situation I have been in!)

    Step One - get a bank loan/overdraft (same difference) to cover the shortfall. (As this is what you have done, it's 'So far, so good!) This gives you a little time to breath - and think!

    Step Two - get a pleasant sounding female to chase those outstanding accounts. Someone who can talk sweetly, but puts up with absolutely no bloody nonsense! And if they give her the run-around, it's time to play The Litigation Game! This is always good fun and even more instructive than Scrabble!

    Step Three - red-pencil unnecessary costs. Go through EVERY item line-by-line, every insurance, every vehicle, every employee, every leasing agreement, every telephone rental and EVERY telephone call. Every asset and every cost must be looked at. Do we really need all those chairs? Do we need two cars? Do we tank-up at the cheapest petrol station? Can we turn the heating down? Can we do our own cleaning? Are we buying from the cheapest sources? Everything must be called into question!

    Good luck!
     
    Posted: Oct 1, 2018 By: The Byre Member since: Aug 13, 2013
    #21
  2. atmosbob

    atmosbob UKBF Ace Free Member

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    Oddly enough not the best advice for diesel. Supermarkets are known to add bio-diesel to their mix which has an adverse effect on turbos.
     
    Posted: Oct 1, 2018 By: atmosbob Member since: Oct 26, 2009
    #22
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