Arnon Dror is a prominent name in the world of international
business and finance. This Hebrew University MBA graduate has the distinction of being the
Vice-President in many popular companies. These organizations
include Xerox Technology Business Division of US Channel Group, Presstek
Inc., Creo Inc., and Creo Americas. In fact, the people close to him say he
specializes in many diverse fields.
Such areas include strategic planning, cash
flow management, internal control, corporate mergers, international taxation,
and ERP integration. These individuals also give him credit for the turnaround
of the fortunes of many global corporate enterprises. They even admit he has an
impressive track record in this domain. Hardly any other financial executive
has been able to surplus it. Today, he holds the position of Senior Operations
Executive in Janus Technologies.
Arnon Dror – 3 Key tips every entrepreneur should know
to improve their organization's cash flow
This financial expert says entrepreneurs understand how
important it is to maintain positive cash flow. Without it, their entire
commercial operations may come to a standstill. In the worst-case scenario, a
severe cash crunch is enough to make them bankrupt. This is obviously the last
thing they want. However, these proprietors know it isn’t easy to ensure
adequate cash reserves in their businesses. After all, they got to deal with
the problems people associate with running such concerns. These include having
slow-paying customers in their clientele, suppliers asking for deposits and
incur ever-increasing costs. Fortunately, this professional explains it is
possible for them to achieve their objective. These owners just need to keep in
mind and implement the following three important tips:
1.
Issue invoices after every successful sale
Entrepreneurs need to issue invoices on their
customers after every successful sale. These financial documents shouldn’t be
ambiguous. The details on such paperwork should be very clear to the end-user.
These include the date of the transaction, description of the product, price
per unit and sales value. On top of this, terms of payment should be explicit
to disputes at a later stage.
2.
Be open to alternative modes of payment
Proprietors should allow their clients to use an
alternative mode of payments to clear their outstanding dues. These include
plastic money, electronic transfers, checks, internet banking, and mobile
wallet. These businessmen shouldn't insist their customers pay only by cash.
Otherwise, getting the funds, they need instantly can be very difficult. This
can disrupt their operations for obvious reasons.
3.
Focus on pricing
These businessmen need to take a closer look at the
prices at which they sell their products. If the need arises, they consider
revising what they charge their clients in the marketplace. Otherwise, they
won’t have money to operate their organization successfully. This isn’t what
they want at the need of the day. The amount their receive shouldn’t only be
sufficient to meet their operating expenses. They got to ensure there is enough
cash in hand for unforeseen circumstances.
Arnon Dror says that entrepreneurs don't need anyone to tell
that cash is the lifeline of their business. Maintain a steady and constant
cash flow is just as important as generating adequate profits. It able them to
run their business with ease in the ever-changing market environment. Executing
the above three essential tips can help them to accomplish this task.