Cashflow & sales velocity are critical for small business success.
– Begin by tracking your Days Sales Outstanding (DSO) to measure how quickly you collect payments.
– This week, review your invoicing process to ensure it’s clear and timely.
– Follow up with customers who have outstanding invoices to encourage prompt payment.
– Consider offering discounts for early payments to boost cash flow.
– Implement these steps to enhance your cash flow and sales performance!
💡 Need support putting this into action? Reach out — we’re here to help.
References: David Neville Davis, The PROFIT Coach and Donald Miller, How to Grow Your Small Business.