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Summary: In order to increase cash flow on a personal level, an individual needs to bring more money into his house by working more hours or becoming more valuable in his salaried position. Find out what responsible spending has to do with increasing cash flow with help from a financial services specialist in this free video on increasing cash flow.
William Rae has been licensed in the insurance and financial fields for over 30 years. Rae currently runs HBW Florida, specializing in life and health insurance for small business...read more
"Hi, my name is Bill Rae. I'm with Alumni Financial Services out of Seminole, Florida. I've been in the business of the finance world for well over thirty years. Today the question is how to increase cash flow. That's a wide open question. Are we talking about increasing cash flow in your business, or are we talking about increasing cash flow on a personal level? Let's start with the personal level real quick. If you're looking to increase cash flow, simply means you need to bring more money into the house. Really the only way to do that is to earn more money or begin to sell, which for all intensive purposes is the same thing. So if you're in an hourly position or a salaried position, you either have to become more valuable, or you have to begin to sell assets to bring more money in. Make sure you've got control of your spending of course, otherwise this is a futile effort. If we're talking about increase in cash flow in business, this is a much deeper topic. Many many things you can do, and I'm just going to highlight a few of them. First and foremost in increasing cash flow in any business is to obviously bring in more customers or increase the per average ticket sale that you're making. And there are many many ways to do that in today's market. We know of a system called a lift presentation, uses like a merchandise or a smart card technology that actually entices your customer to come back in, perhaps spend a little bit more, fifty cents, a buck more. But more importantly, by giving them a reward or a reason, they come back and spend money with you more frequently. Don't fool yourself, people are still spending money today, they're just spending it smarter. So you're job is to get them, or entice them in to spend with you. That'll increase your cash flow. Either way, I hope that answers your question. My name is Bill Rae, and as always we're here to help you build true wealth."