Barry Moltz

Barry Moltz Barry Moltz gets small business owners unstuck. With decades of entrepreneurial ventures as well as consulting with countless other entrepreneurs, he has discovered the formula to get business owners marching forward. His newest book, BAM! shows how in a social media world, customer service is the new marketing.

12 Reactions

  1. I have found that that really is the best way to find extra money. Taking a look at your financials can really make you think about what you are spending for this or that and how you can make changes that have a positive impact on your bottom line.

  2. I find it curious that one point is to collect AR more quickly and the next point says to get longer terms from vendors. What if I’m the vendor that company A is dragging out to keep their cash flow situation cozy? These two points seem to create a Win-Lose situation.

    • Barry Moltz

      No, its win win- you earn longer A/P terms and then pay when promised. There is nothing wrong with not giving your customer long terms. The difference between these two are key!

  3. Aira Bongco

    The most surprising tip here for me is to get longer terms. If you compute it, you will get to save some money with a shorter term. But I guess it will work since we are talking about a business that has growing money overtime.

  4. Barry,

    Great tips. I’d like to focus on the need to learn how to read your cash flow statements. IMO, we MUST understand the numbers – no excuses – because what you read is what you often can’t see while busy running your business.

  5. Wonderful tips shared to grow our business in a better manner, also keeping the profit margin on a higher side. We all know who are those customer who makes the payment late or so. I believe that understanding of each & every valid point is important for running a business in full cooperation with the employees.

  6. To keep track of my finances, I always check on my internet banking statements online and tabulate the data in an Excel sheet. This way, I know if it is positive or negative balance at the end of the month.

    • I can’t disagree with anything said here, but I would like to add most basic accounting software will track positive cash positions automatically along with A/R A/P and most meaningful financial aspects of your business. It sames many hours of work and time really is money.

  7. Good advice. Businesses can also utilize Barter…whether direct swap or through a Modern Barter exchange to preserve cash flow.

    With direct swap barter, one has a guaranteed sale. And, the expense did not require cash, except for any specific cash cost of sale which is well offset by the cash not spent on a purchase. Through a Modern Barter Exchange transaction, some of the cash expenses are gone. The cash that would have been needed to pay a vendor is retained to pay other vendors or in areas that grow more sales.

    Barter is a tool to use in business transactions. It is easy once one knows how to use without causing issues or IRS concerns. Cash will remain king, and using barter frees up more of the king’s gold.

    Jeff Weaver

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