Today’s infographic features a frustrating and consuming topic for many households and individuals — money. If only money trees actually produced dollar bills and never ever died…or if there was always a sugar daddy/sugar mama around to keep us monetarily satisfied — but alas, these two are hard to come by, and most of us have to work hard for our money instead.
And because we work so hard, it’s easy to get caught up in our financials. Organizing them isn’t exactly the easiest task in the world, and at times can be painful — particularly if you’re a business owner.
Today’s infographic suggests helpful ideas for maximizing your money. Try asking suppliers if they have an early payment discount. If they don’t, wait to pay until the bill is due. Also, making sure your pricing is competitive is equally important. Make sure you’re not charging your customers too much or too little, and figure out what you can do to get more for your services. Lastly, prioritize who you have to pay, don’t just pay the lowest bills first — consider their terms and which bills are essential to your business, like payroll.
Hopefully, this graphic helps ease your currency conundrums and shows just how far you can stretch your cash. [Via]
© Micaela Lacy for Daily Infographic, 2013. |
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Post tags: business, business owner, cash flow, dollars, maximizing cash flow, maximizing your cash flow, money, success