Even if You Don’t Have the Money, There Are Still 3 Ways to Drive Growth

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This article originally appeared in Inc. on July 12, 2017

Cash flow is the lifeblood of every business. Under appreciating the importance of cash flow and cash flow forecasts are top reasons why small businesses fail. This is true for larger companies, too. Jawbone’s announcement that it was folding was foretold by reports last year that it was not able to pay key vendors due to a lack of cash. High flier GoPro is shifting its focus to costs and profitability versus growth to shore up cash flow.

The truth is growth and cash flow does not have to be an either/or choice if it is done in the right way, for the right consumers and at the right time. This is key because generosity–done well–is a great way to grow. Netflix dropped full seasons of its shows to enable its consumers to binge watch, despite investor concerns of consumers signing up, watching and quitting. Costco has an outstanding return policy which is part of the secret of its success.

 

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