Bohemia, NY (PRWEB) November 19, 2013
Lawrence Teicher, founder of CFO Consulting Services, a part time CFO services company, comments on an article published by Fox Business on November 1st regarding the best ways to increase cash flow in small businesses.
According to the Fox Business article titled “5 Simple Ways to Increase Your Small Business Cash Flow,” growing a business has its ups and downs. While its sometimes hard to predict financial circumstances, business owners should make it a priority to plan ahead and generate extra cash for financial emergencies.
The article lists five ways for small businesses to generate positive cash flow and surplus profit. They include:
1. Have a sale
2. Increase prices
3. Take out a loan or apply for a grant
4. Employ packages instead of singular services
5. Sell or lease unused assets
Lawrence Teicher, founder of CFO Consulting Services, a leading CFO services company, says having a sale is one of the best ways to generate surplus cash flow, as well as gain new customers. “Business owners should launch sales or special promotions to incentivize customers and clients to buy products or enlist services,” he says. “This gives businesses a chance to drive future sales and create loyal customers. They should also think about raising prices. However, clients must be aware that prices are increasing and why.”
Offering packages instead of just individual services, and selling unused assets could help a business save money. “Many businesses save assets that they don’t necessarily need,” he says. “It could be unused office space or excess equipment, but either way, business owners should think about leasing space or selling these items. Getting rid of clutter can really help a business find extra cash for emergencies.”
CFO Consulting Services, LLC provides outsourced, part-time CFO services on an as-needed basis to both small and mid-sized businesses located in the NY metropolitan region. Founded by Long Island CPA and financial expert Lawrence Teicher, CFO Consulting Services follows four main principles: independence, objectivity, competence and confidentiality. These core values have led its clients to achieve lasting success in their businesses.