Sandra Simmons, expert cash flow management coach, and President of Money Management Solutions, Inc. was recently interviewed by a marketing guru about how she helps her business owner clients get the correct viewpoint and make more money. We thought you might be interested in what she had to say.

Despite the economy, there are several financial planning steps that any company can take to increase their business cash flow and maximize profits.

Do you feel like every dime of cash flow you bring in gets sucked into a black hole to pay bills and leaves you asking yourself, “Where did all the money go?” Want to know an age old money management secret?

You have to make the money before you spend it!

How do you do that? It’s called Income Planning. According to cash flow management expert Sandra Simmons, there are several steps you can do every week to make more money.

Cash Flow Management Tip #1 – Research Your Market

“First, find out what products or services your customers want and then provide that,” says Simmons. “One way to find out what they want is to look over your sales receipts, and find out what product is selling the best” she says. “Ask the customers why they bought the item, and what benefit they expected from the product or service. Now use what they said in your advertising to promote that product.”

Cash Flow Management Tip #2 – Promote To Your Market

Simmons says that there is an art to promoting something so that it will be responded to by your customers. Promotion does not necessarily mean offering a discount. It’s more important to find out why a customer wants or needs what you have to offer, and what they will base their buying decision on. Price may not be as important as such things as fast delivery and dependable service.

“Find inexpensive, but effective ways to promote. Collect business cards from potential customers, and send them a personal letter letting them know how your products/services can benefit them,” states Simmons. “It’s one of the least expensive, most personal promotional actions you can do. A series of postcards mailed at regular intervals to current and potential customers can also be very effective. And I would be remiss if I did not mention internet marketing because it is very cost effective and you have a better than average chance of getting a great return on your internet marketing investment because what you put on the internet stays there selling for you 24/7 until you take it down.”

Another great way to get new business is to ask your satisfied customers for referrals. You can make it fun for your customers to participate by creating a referral game they can play, where they get something in return for a certain number of referrals who buy. Let your customers help you out. They really do want you to do well in your business.

Cash Flow Management Tip #3 – Sell And Deliver

Selling is easier when you are genuinely interested in your customers and want to help them. Ask your customers what they need and want. Then it becomes much easier to sell them that product or service. For example, a family of 4 who wants a van to cart the kids and their equipment around to sports activities is going to walk off in disgust if the salesperson is showing them 2-door sports models, despite the fact that the sports car is a good deal.

“Once you’ve sold the product or service, fast, courteous, professional delivery is key to customer satisfaction,” explains Simmons. “This is especially important if you are in a service business. Delivering what you promised, when you promised it, can mean repeat business and referrals for new business. To boost your income, be great at what you do, and then ask your clients who have benefitted from your service for referrals.”

Cash Flow Management Tip #4 – Prevent The Waste Of Resources

For every dollar you agree to spend in your business, ask how it is going to bring $5 or more worth of income back into your business. Carve out a percentage of the income every week to fund a promotional budget and then figure out the most effective ways to reach your customers within the budget. It is no laughing matter when the income you worked hard to earn gets wasted on things that do not give you a return on your investment.

Cash Flow Management Tip #5 – Repeat Successful Promotional Actions

Look back at when you were last making the most sales. Find out what your successful actions were at the time and do those actions again.

“Focus your time, energy, and creative thinking power on planning how to get the money in,” Simmons says with emphasis. “That gets the cash flowing in the right direction and puts your attention back on servicing your customers and you will enjoy your business even more.”

Simmons is President of Money Management Solutions (www.MoneyMgmtSolutions.com), and has years of experience helping business owners and individuals manage their money to maximize profits and create wealth. Her cash flow management coaching services are in great demand around the country and she has an impressive track record of putting companies back on the road to financial success.

Her company also has developed an online cash flow management software which has automated the process of making businesses profitable. www.cashflowmojosoftware.com/take-a-tour/

Watch a video about the importance of cash flow analysis.
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