You’re putting in the hard yards—your team is busy, jobs are rolling in, but the cash in your bank account isn’t adding up. Sound familiar?
Running short on cash is one of the most stressful things you can face as a business owner. You’ve done the work, but the bills keep piling up, and chasing payments feels never-ending. The good news? With a few simple strategies, you can turn things around.
Here’s how to take control of your cash flow—and what your business could look like just three months down the track.
1. Invoice Immediately and Consistently
Right now, your invoices might sit untouched until you find a spare moment—sometimes days or even weeks after the job’s done. It’s no wonder payments are slow! Invoicing promptly ensures you get paid faster, reducing the gaps between jobs completed and money received.
Outcome After 3 Months:
Imagine having invoices sent out automatically at the end of every job. Payments start arriving quicker, and instead of chasing overdue accounts, you’re focusing on the next big project.
2. Get Clear on Your Costs
Do you know the exact profit you’re making on each job? Or does it feel like the money disappears as soon as it comes in? Without knowing your true costs—labour, materials, and overheads—it’s impossible to price jobs accurately.
Outcome After 3 Months:
Picture having complete clarity on your job costs. Every quote reflects the real expenses, and your profit margins are finally predictable. Instead of surprises, you’re confident every job adds to your bottom line.
3. Offer Easy Payment Options
How often have you heard, “I’ll pay that invoice next week”? Clients dragging their feet on payments can cripple your cash flow. Make it as easy as possible for them to pay you by offering multiple payment options.
Outcome After 3 Months:
Payments are rolling in faster because your clients can pay with just a few clicks. No more excuses about bank transfers—just quick, convenient payments and a healthier cash flow.
4. Monitor Your Cash Flow Regularly
You can’t fix what you don’t know. If you’re not keeping track of what’s coming in and going out, it’s easy for cash flow problems to sneak up on you.
Outcome After 3 Months:
Imagine having a clear view of your finances at all times. You know exactly when money is coming in and going out, and you’re finally planning ahead with confidence instead of reacting to crises.
5. Communicate with Customers About Payment Terms
How many times have you avoided setting firm payment terms because it felt “too pushy”? Being clear upfront about when and how you expect to be paid sets the right tone and prevents awkward conversations later.
Outcome After 3 Months:
Customers now respect your payment terms because they’ve been clear from the start. Late payments have reduced dramatically, and your bank account reflects the steady flow of on-time payments.
6. Implement Profit First
Unexpected expenses happen—vehicles break down, equipment needs repairs, or the weather delays a project. Without a clear system in place, these surprises can throw your cash flow into chaos. That’s where Profit First comes in.
Profit First isn’t just about setting money aside—it’s a simple system that helps you manage your income before it slips through your fingers. By allocating a percentage of your earnings to specific accounts (like profit, tax, and operating expenses) as soon as money comes in, you’ll always know exactly where your cash stands.
Outcome After 3 Months:
You’ve got dedicated accounts with money set aside for tax, profit, and expenses—no more scrambling to cover unexpected costs. When bills pop up, you’ve got the funds ready, giving you peace of mind and a business that feels secure, not stressful.
Conclusion:
Picture your business three months from now: invoices going out on time, payments rolling in, clear visibility on your finances, and no more sleepless nights over cash flow.
These strategies aren’t just ideas—they’re practical steps you can start today to take control of your business finances.
Feeling like it’s time to get these systems in place?
Book a free discovery call with Virtual Coastie today, and let’s chat about how we can help you make this your new reality.
