How to Extend the Life of Your Cash Flow When Business is Slow

Hi my name is Bob Fuest, Founder and CEO of Fuest & Klein Wealth Advisors and this snackable video is going to cover how small businesses can extend the life of their cash flow.

1. You’re probably continuing to try and do traditional sales and marketing, either PR or other forms. We would suggest that you stop that and you actually learn to digitize those functions and reach people all across the globe to help you generate alternative avenues of cash flow and revenue.

2. We strongly suggest that you get rid of the vendors that are supporting those activities of traditional sales and marketing and that will also add to your cash flow and extend and hopefully save your business from going under.

3. The way they tie together is we want you to take a full inventory of not just your vendors but of all of the services and products that those individual vendors have. For instance, I have at least three vendors that do the identical thing. I went and cancelled those too.

You may be in contracts but most vendors, most consultants, and most services are very amenable to revisiting those contracts to shorten the length of time in order to help out fellow small and medium-sized businesses.

Again there’s three things that you can do right now to make it really easy for you to extend the life of your cash flow and hopefully keep your business running well into 2021 and beyond. Thank you, this is my snackable video. Bob Fuest, Fuest & Klein Wealth Advisors.