Like many small business owners, Scott Gerber experiences slow times when his cash flow dips.
Gerber, owner of a promotional video production company, came up with the following six tactics for smoothing out his company’s uneven cash flow that he shared in a recent Entrepreneur.com article.
- Adjust customer-credit and payment terms.
- Offer discounts for early-payers.
- Establish “milestone payments” for longer projects.
- Create new revenue streams by expanding existing service packages.
- Retain control of the final product until it’s paid for.
- Renegotiate vendor and freelancer contracts.
To read the complete Entrepreneur.com article, click here.