Predictable cashflow is vital to every business. Without it, the uncertainty can cause business owner stress as well as difficulties with looking to the future. In order to ensure that your business can pay its bills and survive, you need a predictable cashflow.
The simple answer to making your cashflow more predictable – increase sales. If your sales are going well, how could you scale? If your sales are not going so well, how can you improve?
The keys to creating consistent and predictable workflow:
Unique Selling Proposition
Do you know what your Unique Selling Proposition or USP is? What is the unique benefit that your business has for its customers? A USP makes your business stand out from the crowd, telling your customers what is special about you.
Find out your USP by understanding your target market and their needs as well as what your business does to fulfil these needs. Write down everything you do that could be considered unique, then narrow it down until you have a Unique Selling Point.
When starting out, it might not be best to target a narrow and specific target market. You may not have realised where your strongest demand will come from. Get the message out there and you will find that similar people will come together as a target market. People within your target market will spread the word about you and you can develop your niche even further until everyone in your target market knows exactly who you are.
Multiple Lead Generation Strategies
Predictable cashflow is achieved through multiple strategies. If you are relying solely on a strategy, such as referrals, your sales and business will be up and down. In the event that your referral strategy doesn’t work out as well, you need to have other strategies in place to produce more leads and subsequently more sales.
Strategy and Process
Ensure you have strategies and processes in place. If you are looking for consistent cashflow and growth, train your staff on your processes, report on meeting targets and hold your team accountable.
Create automation where you can, create strategies around scaling your products and services and use your sales funnels and pipeline. Feel free to read my previous blog on Preparing your Sales Pipeline.
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