The document provides 38 strategies and tactics for improving cash flow and profitability. Some of the key strategies include increasing prices by 10% across the board, completing a profit model review to identify areas for improvement, increasing sales conversion rates through training and implementing sales processes, and increasing the average sale amount by upselling and cross-selling additional products and services. Additional tactics focus on improving cash flow by shortening credit terms, enforcing credit policies, and negotiating longer supplier payment terms.

1. 38 Essential Quick Cash Strategies
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and Tactics
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2. If I owned a share of your business, and we were looking for cash improvements, I would likely start with this list of Strategies & Tactics. They are not in any
particular order, and they don t come with a set timeframe, but remember if you need to change results and improve the amount of cash in the bank
account fast, then there is nothing stopping you (only yourself) from implementing a good number of these strategies and tactics within a month. If you find
you have no time you may need to implement the mimosaPLANET timeCONTROL process .
James Cooper, Founder of mimosaPLANET
Profitability Strategies & Tactics:
1. Increase Prices
a. Level 1 10% Increase. Just do it, across the board. 10% for most businesses is nothing. A $50 per hour rate becomes a $55 per hour rate; not a massive
increase to your customers. Let s assume your businesses revenue is $2m pa, that s an increase of $200k pa, an extra $16,700 pmth you could have from
tomorrow just with a 1 minute decision. Even if you lost customers, you d likely still make more but this time from doing less work. If you want assurance,
check your situation on an Increasing Your Prices Spreadsheet, which give sales decline % figures for different Gross Profit Margin % s.
b. Level 2 Brand Audit. Review the whole experience a customer has from before lead generation to after sale service. Do we look and feel like a premium
provider that gets to be in the premium section of the market and charge premium rates? If not;
i. Establish, company Values and Vision with the whole team participating. To determine what you stand for and where you re going. Direction &
Clarity. Produce a written statement to guide you, your team and your customers.
ii. Re-brand corporate identity to suit. (Requires Investment in a branding expert/graphic designer).
iii. Implement re-brand across all company collateral, i.e. website, letterhead, brochures, etc (Requires Investment in graphic designer).
iv. Increase Prices to match new premium positioning.
2. Increase Profitability
a. Complete a Profit Model Review. Whole Company Business Model Overview. Insert the last years worth of Financial Data from your Statement of
Financial Performance (Profit & Loss) or annualise the last quarter s performance results, (Revenue, Cost of Goods Sold, Gross Profit, Expenses, Net
Profit), into a Profit Model excel spreadsheet. Adjust (increase or decrease %) of some key variables (price, sales, cogs, expenses) to discover the impacts
of such changes.
b. Complete a Revenue Activity Review. Split your total sales figure into different departments or revenue activities to determine the Gross Profit of each
Revenue Activity (RA). What RA gives you most of your profit? Often a RA with the highest Sales figure is not the most profitable. Are any RAs losing us
money? Could we increase profit by eliminating expenses and cost of an underperforming RA? Where should target the business for the future?
c. Reduce Expenses. Audit and challenge each expense, why do we have it does it add value?
3. Increase Sales Conversion Rate
a. Sales Training / Knowledge Building (Read Books & watch online Videos & train your team)
b. Develop a clear Sales Process and Implement
c. Create Sales Scripts (Phone, Face-to-Face) & any other documents/sales aides required in your new Sales Process Flowchart
d. Weekly Sales Activity KPI Sheet. Record and Report on Sales by Implementing this tool.
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3. 4. Increase Average Sale Amount
a. Define Your Ideal Target Market. Who are they, what do they look like/act like, what is they challenge, what do they what and where will you find them.
Target higher yielding customers. Same work more profit (note may require Brand Audit)
b. Define Your USP (Unique Selling Proposition) and Market Positioning Statement.
c. Cross-Sell. Develop a Checklist of add-ons for each type of sale, and offer each item to the customer at sale time. Add-ons increase/enhance the customer
experience from the product/service they are buying and increase your Average Sale Amount and your profitability. Don t assume your customers don t
want it or can t afford it, offer them the opportunity to enhance the total experience, most may say no thanks and that s fine, but 1 in 5 or 1 in 10???
d. Up-Sell. Simply offer/recommend the premium product first from your line up. IF they can t afford it or don t want it they simply select the next level /
model / product / service / solution down.
5. Increase Leads and Repeat Business
a. General
i. Develop 1-5 Very Strong No Risk Lead Generation Offers to use with Marketing Campaigns. i.e. Free eBook/Whitepaper/Report, Free Webinar,
etc. Lead Generation Offers are not Sales Promotional Offers i.e. 20% off, buy 1 get 1 free. Lead Gen Offer are design to provide massive value
at no risk so that you get contact details and permission to communicate about your products and services to someone that is actually
interested.
ii. Develop and Publish Content. Write articles in your field/industry/product/service. Become The expert . Publish both online & in print.
b. Permission Marketing
i. eMail Campaigns. To existing database of customers, prospects, past customers, past prospects, & business contacts. Must have Strong Offer.
ii. Direct Mail Campaigns. To existing database of customers, prospects, past customers, past prospects, & business contacts. Must have Strong
Offer.
iii. Direct Mail Monthly / Quarterly Newsletter. To existing database of customers, prospects, past customers, past prospects, & business contacts.
c. In-Bound Marketing
i. Internet Methods: (Get found on the internet by people that are looking for information about; providers of your product or service, how-to do
your product or service or industry).
1. Website Conversion Goals & Pathway. Each website should have a goal, normally A) to get an enquiry or B) to make a sale. Each page
should have a goal, so that you have a conversion pathway that leads to conversion event pages where for most people you ll be
offering something high Value in exchange for contact details. i.e. Useful Information.
2. SEO (Search Engine Optimization). On-page (many techniques) & Off-page (links).
a. On-Page (page title, keyword meta data, headers, text) less is more, make each pages specific to a different keyword/phrase.
b. Off-Page (create a Blog!!!, Directories, Major sites, partners sites)
3. PPC (Pay Per Click Advertising). Google Adwords advertising is essentially like buying visitor to your website. Make sure you have a
landing page were you promote your offer.
4. Website Analytics. Monthly review web stats. Either use your existing CMS (Content Management System) Web Analytics provided by
your web master or insert Google Analytics for free.
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4. 5. List on Online Directories. If they have a review section, advise the team how import it is we do a great job every time as the world is
watching. Send customer who came from a particular directory back to the website to write a review. Listing with 10 positive reviews
will get far more calls that listing with no reviews, but you must re-direct clients back to the website.
6. Social Networking/User Generated Content Sites:
a. Link-In for B2B
b. YouTube. Create a YouTube Channel. Upload how-to videos and/or product videos and/or customer videos. Optimize each
video for search engines (title, description, keywords).
d. Out-Bound Marketing
i. Direct Methods: (Go direct to those people you believe would be your best customers with an amazing offer they just have to take up)
1. Direct Mail + Telemarketing Follow Up to Suspect List of Ideal Target Market. Long Term Value SLAs/PSAs (Service Level
Agreements/Preferred Supplier Agreements. Must have a Very Strong No Risk Offer.
2. Identify and Contact Strategic Partners. Find business who share the same target market, and propose that business gives a gift to all
their clients/contacts that is one of your offers. Those that take it up are leads for you. And the strategic partner is seen to be a
proactive provider that cares. Where do you find them? Existing Clients, business contacts, networking, clients suppliers or clients,
directories. Pick up the phone.
3. Pro-active Referrals. Ask for them from customers, prospects, past customers, strategic partners, networking alliance partners, friends,
family, and business contacts.
ii. Mass Methods:
1. PR. Public Relations & Press Releases.
2. Networking Events. Join 2 Networking organisations & Participate. i.e. BNI & Chamber of Commerce.
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5. Cash-Flow Strategies & Tactics:
1. Increase Money In:
th th
a. Shorten Credit Terms. Change 20 of the month following terms to payment on invoice, or 7 days, or 14 days terms. If you have to offer 20 of the
month following for major clients because it s the industry standard then you can have 2 or 3 tiers of clients. i.e. A Type = Payment on Invoice, B = 7
Days, C= 20th Mth Following.
b. Enforce Credit Terms. Use an Accounts Receivable System. Develop a Flowchart from 1 day overdue to 30-60 days overdue, with what actions are taken
at each step. i.e. day 1, phone script 1, day 7 Letter 1, day 10 phone script 2, day 14 letter 2, etc
c. Enforce Debt Collection on All Invoices over a set date overdue. i.e. All Invoices unpaid after 60days automatically go to a Debt Collection Agency.
d. Increase Deposit %. If you don t take a deposit for work, implement a deposit on agreement date or commencement of project date. If you do take a
deposit, increase from your current likely 25%-33% to 40-60%. Keep going until you get too much resistance. i.e. If your current is 30% increase to 50%
and at 50% no one has an issue, try 55% and at 55% 1 in 20 has an issue, increase to 60% and at 60% 1 in 4 has an issue . I would re-set it at 55%.
e. Increase Stock Turn.
i. Package Offer to Sell Surplus Stock and Slow Moving Stock. Find a fast moving item (a product/service you sell heaps of) and sell the slow moving
item or item you have way too much of at a 50% discount, but only when you buy the fast moving item.
2. Decrease Money Out:
a. Negotiate longer Supplier Terms. Give it a go you have nothing to lose.
b. Negotiate a rent holiday for 1-6 months from your landlord. Say you want to stay in the location and to ensure the businesses success and so that you
can continue to meet your payment obligation on time in the future, you need to invest in marketing & sales over the next 6 months, so you d like to have
a rent holiday for the next 6mths. When they pick themselves off the floor, negotiate and settle on whatever you can, 1-3 mths likely.
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6. Other Tactics:
1. Implement the mimosaPLANET timeCONTROL process. Only focus your time on that which makes you money.
2. Implement a Recording & Reporting System. KPIs (Key Performance Indicators) for all Areas/Departments/Segments in your Business.
3. Sell Surplus Assets.
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7. About the Author:
James Cooper is the founder and CEO of mimosaPLANET. He is a business advisor and business development specialist, providing business owners with the
knowledge and tools to help them increase profit and reduce the hours they work for the reward they get.
About mimosaPLANET:
mimosaPLANET is a unique provider of Business Development & Growth Services, enabling small business owners to get better results for their business,
which means increased profit and more free time. Through mimosaPLANET s services, and our key strategic specialist partners, we advise, develop, mentor,
coach, consult, train, design, plan, create, and implement proven principles, methods, strategies and tactics to deliver change that is beyond simple
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