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Cut costs to increase your cash flow - Guide My Growth

Increase your cash flow by tracking expenses

Many small and medium businesses have cash flow problems. One of the reasons why this happens is because there is not enough money flowing into the business. This could be because the business isn’t selling enough products or services to customers. It could also be because expenses have increased while income – sales – have

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Good inventory management equals more cash flow - Guide My Growth

Improve your inventory management to increase your cash flow

Are you struggling to get your cash flow under control? Consider taking a look at your inventory management. Inventory management is a key – but often neglected – area that affects your cash flow. There are many other ways to increase the cash flow in a small business. Making smart moves in inventory management will

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strategies to increase profitability - guide my growth

5 additional strategies to increase profitability

Once you have the basics in place and you start seeing more sales, you can try these 5 additional strategies to increase profitability. 1. Know your most profitable customers Usually, about 80% of your revenue comes from 20 percent of your customers. This is called the Pareto Principle. If you know who these customers are,

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make a business profitable - guide my growth

5 ways to make a business more profitable

If you are struggling to make a business more profitable, it can be challenging to find the best strategy to change the situation. Here are 5 ways that can help you turn things around. 1. Make money by saving money Your business makes money by selling products or services. To sell your products or services,

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Your business is losing money - Guide My Growth

Do this if your business is losing money

If your business is losing money, immediate action is needed. At the same time, you should not make drastic changes without taking the time to consider the consequences. Here is a 7-step approach so that you can turn things around and improve your profitability. 1. Evaluate Your Revenue and Expenses Start by evaluating your monthly

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Cash flow forecasting for small business

Cash flow forecasting is a key skill that every small business owner should have. Because even if your business is profitable, it can still fail if you do not manage your cash flow well. Why is cash flow forecasting important for small businesses? Some of you tell me, “Tonia, I have no need for cash

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How African business can increase cash flow | Guide My Growth

How a small business can increase their cash flow

“Cash is king.” We all know this saying. Lack of cash is even the reason that most businesses fail. Having cash on hand can help your business withstand challenging times or decide to invest to grow your business. It will allow you to take advantage of unexpected business opportunities. It gives you more peace of

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Young man with smartphone | Guide My Growth

Cash flow: your small business can be profitable and still fail

Profit does not equal cash flow Your business can fail even though you are making good profits. How can this be possible? One main reason is cash flow. Many business owners do not focus on generating consistent cash flow. Even if they are selling good amounts of products or services, unless that money is coming

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Seated lady with laptop | Guide My Growth

10 Advanced strategies for restaurant owners to increase profits

For restaurant owners, keeping costs low is a key strategy to improve profitability. Last week, we talked about 16 strategies that any restaurant owner – big or small – can use to save money and increase profits. Today, I am sharing 10 advanced strategies. These advanced strategies can be used by bigger restaurant owners. They

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EU funders | Guide My Growth

How to save money running a restaurant

How to save money running a restaurant? When you run a restaurant, it can be hard to make good money. There are so many things to take into account: Waste of products because you bought too much and customers did not come. Loss of products or utensils through carelessness. Higher costs and lower profits because

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