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8 Ways to Boost Cash Flow

Essay by   •  May 16, 2011  •  Essay  •  338 Words (2 Pages)  •  1,682 Views

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We interviewed a business man and he said that any smart man would use the list. He was not a smart man. Due to him not being a smart man, we interviewed someone else. This business man Mr. Bob Smith, the builder. He took a look at our list and told us a little about how he puts each pointer to use. Bob owns a hardware store that he runs with his girlfriend, soon to be wife, Wendy. He has told us about how he decides to increase the price of his products. Since his store is in a small town called Sunflower Valley, his store is the only hardware store there. There for when there is high demand for one or two particular product, he slightly raises the price. He minimizes the prices and has sales when winter turns to spring, because that is when people get ready for summer. He also gives a sale before Christmas. When he buys materials or equipment for his business he always makes sure he has enough money in advance. He told us that when he buys inventory he makes sure he only buys the materials that he needs. He doesn't over buy an item and lose his money. When using the right kind of debt he uses a long term debt to finance his business, rather than a short term. A long term debt leaves more money available for other transaction, like a bank while, a short term debt a line of credit like a credit card, which my lead to debt. Bob had mentioned that his customers pay right on time and very generous people. He makes sure that everything is on time and doesn't miss a day. As mentioned Bob, always ensures that his customers pay on time. Finally, Bob as a business man always makes sure he doesn't pay anything to early or late but right on the due date. This is what Bob does to maintain his business well and gain good profit.



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