Date Added: May 2010
When times are tough, finding ways to squeeze cash out of your business may mean the difference between survival and failure. When the economy is slow, finding new ways to make money isn't easy but it's not impossible. Consider, for example, sales-based incentives, or develop referral relationships with related businesses, and offer customers incentives for repeat business. Try a PR stunt. Do something wacky or touching or generous and make sure the world knows about it, especially the local media. It's cheaper than advertising, and you can do it yourself with a little creative effort. Look carefully at how well you manage your accounts receivable. After all, the sooner you have your customer's money, the sooner you can use it.