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Posts Tagged ‘software’
Sunday, May 2nd, 2010
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: — 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).
Tags: management tools, software
Posted in Cash and Credit | Comments Welcome »
Wednesday, April 21st, 2010
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!
Tags: management tools, more sales, recession tools, software
Posted in Recession Remedies | Comments Welcome »
Wednesday, March 24th, 2010
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!
Tags: management tools, more sales, software
Posted in Recession Remedies | Comments Welcome »
Wednesday, March 10th, 2010
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!
Tags: management tools, more sales, software
Posted in Uncategorized | Comments Welcome »
Monday, March 1st, 2010
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 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).
Tags: management tools, more sales, recession tools, software
Posted in Recession Remedies | Comments Welcome »
Friday, February 19th, 2010
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!
Tags: management tools, more sales, recession tools, software
Posted in Recession Remedies | Comments Welcome »
Monday, February 15th, 2010
Over the next ten weeks, we’ll provide a weekly quick idea for improving business success. These will be short and to the point, always asking “what if” you tried this, or “why not” try this. Hope these ideas improve your business throughout 2010. Very best, Kraig — Oh, almost forgot: please feel free and even always encouraged to add your comments below.
Tags: management tools, more sales, recession tools, software
Posted in Recession Remedies | Comments Welcome »
Saturday, February 13th, 2010
The Great Recovery…yes, you can up-shift in this upturn! We’re in the “recovery” phase, well mostly – YAY! How about some ideas on being the best in the great-but-slow-recovery that’s enticing us all? Here are some of the consulting involvements I’ve done over the past eight-to-ten months with clients to improve their businesses – I’m hoping these will encourage you to pursue avenues you might have avoided or discounted due to the economic decline:
+ Continued to coach a CEO with 30%+ growth per year
over past five years.
+
Improved sales
of a client through key indicator tracking and focus.
+ Influenced/counseled highly profitable growth
in 2009 for a small lender
.
+ Guided borrowing process to get a client over $10 million of new financing
.
+ Re-focused a management team on accountability to sustain growth.
+ Encouraged/supported a completed acquisition
Tags: management tools, more sales, recession tools, software
Posted in Recession Remedies | Comments Welcome »
Sunday, February 7th, 2010
says:
Kraig, Great point in your recent article on cash management. Credit is no longer cash!
The fine print on any line of credit states that the lender can reduce or revoke the line of credit, or possibly require immediate repayment of drawn funds. You don’t find such small print on a twenty-dollar bill! (Or a checking account balance, for that matter.) Jon
Kraig adds: be cautious of the “offset” provisions in your checking or other deposit accounts at banks; those footnotes probably say something about the lender being able to offset any indebtedness using your deposit funds, without your approval or perhaps even notification! Again, Jon and Red are right: Cash ain’t cash unless it’s cash! PS – it was the “New Tools for 2010 and Cash Ain’t Cash” article below to which we’re referring here.
Tags: management tools, recession tools, software
Posted in Recession Remedies | Comments Welcome »
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