CEO Tools Blog » software

Overcome “but my job isn’t cash”

ceotools — Sun, 01 Aug 2010 17:16:06 +0000

My great mentor, Red Scott, smartly observed that “cash ain’t cash unless it’s cash!” Lenders these days promise to lend, and then don’t…others send checks that bounce, they offer assurances of payment…then delay, and so on. To bolster your cash, simply talk to your people frequently about how their actions and activities affect cash. Do let them know we’re okay, but we need to focus on cash due to the long-delayed recovery. Get them to forecast where they’re going, and how it impacts cash. By simply creating cash awareness, your cash will improve! See the “Forecaster” and “Cash Manager” tools under New Tools Catalog for more ideas. May your cash really be cash! Kraig

RSS Feed Now Enabled

ceotools — Wed, 23 Jun 2010 23:40:58 +0000

Here at www.ceotools.com/blog we’ve enabled RSS feeds so you can subscribe and receive updates to this BLOG when they are posted. Please click on the SYNDICATION link (left bottom of blog LEFT COLUMN) and then approve it to deliver the latest BLOG entry when we post it. Or, just click this link: http://www.ceotools.com/blog/feed/ Hope this is helpful to you in following our BLOG! And, many thanks to Michelle Nelson at www.blueintl.com for suggesting we do this in the first place. Very best wishes, Kraig

Top 10 Tools to Finance Your Business

ceotools — Sun, 06 Jun 2010 12:11:31 +0000

Here’s an update on my Top Ten Financing Tips for ideas to improve your company’s lender/banking. Very best, Kraig

jjhill.org = Best Internet Business Info!

ceotools — Mon, 10 May 2010 19:00:38 +0000

One of my very favorite websites for getting information from the web is the James J. Hill Reference Library (go to www.jjhill.org and leave a request at info@jjhill.org — years ago, their CEO spoke to our Vistage (CEO) group and said that if they already had done the research, they would provide us with that info gratis. Well, it still works and whenever you are looking for something the Vistage website or our own www.ceotools.com website doesn’t have, try them. I did just that to find the list of BEST MANAGEMENT FILMS of all time and received a comprehensive answer. If you’re interested in those films, just click on www.ceotools.com or go to the following additional sources: Forbes Ten Greatest Business Movies http://www.forbes.com/2002/12/16/cx_da_1216bizmovies.html

MSNBC Top 10 Business Movies http://www.msnbc.msn.com/id/5497582

As always, hope this is helpful! Very best, Kraig

Cash-Getters

ceotools — Sun, 02 May 2010 12:38:23 +0000

May 12 Seasons – Let’s just go for CASH this month! How do we get our hands on cash immediately? A few quick ideas: go to customers and ask for quicker payment for a few months; also go to suppliers and ask them to help with slightly delayed payments for a few months. We did this at Snapper when our parent company (NYSE-listed) ran out of cash; we raised $14 million in two weeks just that way.

More cash ideas: go to your bank and borrow down against your availability; check your inventory “earn-&-turn” and your receivables “DSO tracking on 12mma charts” for items and accounts that can yield immediate cash. Try WalkingBear’s credit/collection techniques (see our blog below and search on Walking); try “Walking Your Four Corners (W4C)” to identify stuff you can liquidate or translate into cash. Often, you’ll also see things that represent additional collateral to shore up your borrowings (into cash).

Click on the following link to see our Vistage article on niche improvements, some of which get cash: http://www.ceotools.com/blog/2009/07/ten-ways-to-capture-niche-opportunities/ — all these ideas aim at helping your business.

Please remember our C-H-I-P-S acronym that works in every business we’ve ever walked through: Cash Hides In Peculiar Spots! I’m sure you’ll get some cash from your business by just walking your four corners.

Finally, just search on “Walking” in the seach box above for ideas from our favorite credit/collections guru (Abe WalkingBear Sanchez).

Why not? Introduce New Products/Services…how to

ceotools — Wed, 21 Apr 2010 14:55:19 +0000

Why not…introduce new products and services to get more volume? Many smart companies are betting on this now. An example might be to extend your offering beyond selling them software to installing, customizing, or integrating the software; while this has been done in that industry, could you apply it to your industry? What if you researched wht others are doing in other countries, other markets, other industries like yours just to get some ideas? You might just get a great, new idea. — Please leave your comment below to add to these thoughts!

Why not? Combine or Unbundle to Grow

ceotools — Wed, 24 Mar 2010 22:42:00 +0000

Why not…combine your product/service offering, or un-bundle them, to create more sales? Let’s say you’ve always included ongoing, free, anytime support services with your product or service. What if you created a FAQ list with really appropriate answers, organize the list of FAQs to be easily searched, provided it on a CD as well as your website, and then charge for real-person extra support after the first two calls? What typically happens is, customers adapt to this, already know how to use FAQs (even though you never had them before) and figure out most of the answers thedmselves. And what you’ve done is help them to help themselves (they better understand your product/service) while cutting your costs, even if you never charge them for the real-person support (which I do recommend you don’t charge them). — Please leave your comment to add to these ideas below!

Why not? Partner with Suppliers/Customers

ceotools — Wed, 10 Mar 2010 22:33:49 +0000

Why not…partner with suppliers to share pain/survival by trading payment for price? This means if you’re cash-rich, offer your suppliers quicker payment in exchange for lower price now from them, and similarly perhaps trade slightly higher price for delayed payment if you’re cash-poor. You might do this with customers, too! Why not give it a try right now with one small supplier? — Please leave your comment to add to these ideas below!

Looking for Lenders? Click on the Link Below

ceotools — Mon, 01 Mar 2010 17:02:48 +0000

Looking for lenders, banks, or information on borrowing for business? Many local and community banks as well as credit unions indeed have money and want to lend. Check out sources at Lender Information Websites and also inquire about SBA lending at the banks (reportedly, the ones that do SBA lending can lend up to $5 million guaranteed by one of the Government’s stimulus arrangements).

Why not? Deliver More Conveniently

ceotools — Fri, 19 Feb 2010 14:21:37 +0000

Why not…deliver your product or service in more convenient ways for customers. Try drive-thrus like Starbucks, try delivering by email instead of postal or UPS/Fedex, try all-in-one invoice with product with all use/support documentation, try automatic helpful email hints on use/application including before date of delivery. Try what your competitors haven’t done. Want some ideas? Just ask your customers! — Please provide your comment below to add to these ideas!