How many months remain in your budget?
Today’s question refers to cash in the bank. Due to the economy many businesses are having to close. With competition for jobs high and job availability low, it is prudent to become creative in preserving and increasing your cash.
For some, it was previously easy to play games with credit cards obtaining a 0% balance for 12 months. When the 12 months expired, they were able to close those accounts and open new ones. Most likely, that is a scarcity today.
We need money not only to survive, but to continue our business development, marketing and selling efforts. We need to take prospects to coffee or lunch, and keep a positive mindset about business It is important to make it easy for our prospects to say Yes, turn them into clients, and have enough capital to continue. So what is an entrepreneur to do?
You may have heard about the Government ARC loan for small business owners. It is well worth your time to consider. However, the only caution on this is you must have been profitable one year out of the past two. If this is not the case, you are still eligible to speak to your SBDC Representative to find other assistance.
My advice is to seek out the help you need. When you have assistance, you will sleep better at night and provide better customer service – all which leads to closing more sales and enjoying the Smooth Sale!
