Arnon Dror – Implement 3 Key Tips to Boost Cashflow In Your Business

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.