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5 Strategies for Consistent Cashflow

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Businesses often struggle to maintain a consistent cash flow. Cash flow simply refers to the money being transferred into and out of a business. In order to avoid getting stress due to inconsistencies in cash flow, these tips shared by James Karundu at his introductory class to Harness Your Brilliance Season 31 will be of great assistance.

1. Offers

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An offer  enables you to reach more people. Keeping in touch with your clients makes them feel appreciated. There are numerous ways to do so. You can keep in touch through e-mails by writing newsletters to the people on your client list. There are a number of e-mail marketing softwares available in the market that can assist you to send these e-mails out, schedule them and address the receiver of the e-mail by name in the message content. The personal touch is very important. As you keep in touch with your customers through these newsletters, you can include information about offers that you have. If you own a bakery for example, you can start a Treats Tuesday offer whereby two cakes bought by one person allow for the third cake to be free. You will receive more customers as the offer will interest them.

2. Use social proof

People are influenced by other people. Sharing success stories of other people after they used your products/services adds emotional appeal to your marketing campaign. Testimonials entice other people to seek your services because they too expect the same outcome after working with you. These success stories can be shared on your social media platforms. A testimonial used with a video or picture accompaniment is more believable and increases trust.

3. Compelling marketing

Compelling marketing is marketing that resonates with the deepest desires of your clientele. People tend to focus so much on their business ideas instead of really understanding what the client wants and focusing on that. The manner in which you send out your intended message is crucial. The breakthrough in marketing does not only depend on what you say but how you say it as well. If you aim to make your potential customers act in a certain way, their decision to do so should be important and meaningful to them.

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An upward spiral

4 . Right mind set

Your mind set guides how you think. You should focus on achieving more and believe that you can do it. One way you can do this is to focus on high paying clients. These clients will pay more for your services and increase your output. An upward spiral is important in order to maintain the right mind set. Get out of your comfort zone, make bold steps and you will see everything fall in place.

5. Your money map

This enables you to be stable financially. You should have at least three income pillars in order to remain stable. Salary can be one income pillar. Passion income can also be an income pillar. This refers to money generated from something that you love doing. It is not always related to your job. This may be mentoring, providing advice or even photography. Passive income may also be a pillar. This refers to creating something that generates money for you. You may write a book or make a music album and money will be entering your account from sales of the product long after you completed making it.

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