How can I make my cashflow healthier?
Posted: Wed Jan 29, 2025 5:01 am
There are three ideas you can introduce to help supercharge your cashflow and allow you to make the most of these benefits:
Always make sure your actual income is greater than your cost
This may seem an obvious one, but it’s important to uk rcs data make sure that as well as your income being spread out evenly across a year, you should look to do the same with your costs too.
Ask yourself – are there ways you can spread costs out over a longer period to ensure that your income will always be greater than your costs?
Move away from yearly or termly billing models
Whilst it seems natural to link the termly nature of your classes or courses to your billing, this won’t help your cashflow. Even if it’s what you’ve always done, don’t be afraid to change to a monthly model. Your customers will likely prefer it as it’ll match their lifestyle, and you’ll be making your cashflow far more regular and reliable.
Always make sure your actual income is greater than your cost
This may seem an obvious one, but it’s important to uk rcs data make sure that as well as your income being spread out evenly across a year, you should look to do the same with your costs too.
Ask yourself – are there ways you can spread costs out over a longer period to ensure that your income will always be greater than your costs?
Move away from yearly or termly billing models
Whilst it seems natural to link the termly nature of your classes or courses to your billing, this won’t help your cashflow. Even if it’s what you’ve always done, don’t be afraid to change to a monthly model. Your customers will likely prefer it as it’ll match their lifestyle, and you’ll be making your cashflow far more regular and reliable.