Cash flow is the lifeblood of any business. Try working on these 3 areas which will help create consistent and predictable cash flow:
1. Strong and Sustainable Unique Selling Proposition
A strong USP is one that cuts through the clutter of our everyday lives. A USP is like a beacon that calls to your prospects like an irresistible force. It is the lighthouse that brightens the night sky after you were lost at sea and thought that all hope was lost…….get the picture?
If you do not have a USP or you believe your USP is weak, try this exercise: First, write down everything you can possibly think of that your business does that may possibly be unique, and then put it into seven paragraphs.
Next, reduce those paragraphs down to seven sentences. Finally, take the seven sentences and use only seven words that describe each one. You’ll now have a really good starting point for a powerful USP.
2. Overwhelming a particular niche
Many entrepreneurs that start out with their first company make the mistake of focusing too narrowly on a specific target market.
When starting a new marketing campaign the target market should be small and very focused. However, having this narrow focus for that particular marketing campaign does not necessarily mean that the company should have a very narrow focus.
A new company may not have yet assessed exactly what target market has the strongest demand for a new product or service. Once a target market or a niche is identified, then it can further develop the niche until it’s mastered it.
In planning your marketing, what are the top three target markets your company is determined to overwhelm?
3. Multiple strategies producing balanced lead generation
Once you have a strong USP and you know who and where your target markets are, then determine what specific lead generation strategies you can put to work.
How often have you heard someone say that they get all their leads based on ‘word of mouth’? Dare I say it but in my experience that is an excuse for not knowing how or not being bothered to utilise other marketing strategies. The bottom line is you must have multiple marketing strategies in place.
For businesses, which rely solely on one strategy you’re putting all your eggs in one basket and cash flow inevitably is going to be up and down. Predictable cash flow is driven by a number of well thought out strategies that equally produce a balanced set of leads. In the event that one strategy does not work in a particular month, there are several other strategies that could.