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Recyclers News Press
#3 – Incorporate More Package Deals
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“Consider incorporating package deals to make them
more attractive and cost-effective for your customers.
For instance, bundle together some of your top-selling
products and offer them at a discount price.”
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#4 – Sell Off Unused Assets
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If your company recently underwent a technology re-
fresh or large equipment upgrades and has some ex-
cess inventory of assets, then selling the equipment
through a reputable equipment broker can help in-
crease cash flow. This doesn’t have to include equip-
ment that has been replaced like computers and load-
ers but also assets that are no longer useful. Look for
buyers that are perhaps at the phase of development
you were when you used the equipment the most. “If
you have equipment that aren’t playing an active role
in your business, then selling them could bring in the
funds you need to get by.”
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#5 – Raise Your Prices
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“If your sales aren’t in a slump but you are still having
a hard time managing your cash flow, then it might be
time to increase your prices. Of course, how you in-
crease prices is important to protecting your reputa-
tion. Before you raise them, notify your existing clients
or customers that as of a certain upcoming date, your
prices will be raised and explain why..”
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“Give them a chance to renew their contracts at cur-
rent pricing levels or a specific discount for a period of
time before the increase goes into effect, or offer
them the chance to stock up on supplies while the
prices are still low. Raising your prices in this way will
help maintain your business reputation with your cus-
tomers while also working to effectively increase cash
flow over the short- and long-term..”
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In a recent article
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entrepreneurs from the Young En-
trepreneur Council were asked:
“What’s one strategy you used successfully this
year to get through a cash flow slump?”
Strategies for Surviving a Cash
Flow Slump
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1. Eliminate Unnecessary Expenses
“How many $9.99 per month subscriptions do you
have for technology products that also offer free ver-
sions? Comb through the bank statements, identify
the reoccurring expenses that don’t drive value and
eliminate them.“ ~
Cash Flow Crisis or Sales Slump
Solutions to Solve the Problem
