A cash flow expert doles out useful if obvious advice for cash-strapped companies in this breezy book.
Every company, large or small, could use more cash, and the aim of this book is to uncover hidden or overlooked sources of cash that a business owner could access quickly. Debut author Bixby, who operates a consultancy that helps privately held petroleum companies improve cash flow, wastes no time; in short, punchy chapters, she zeros in on seven simple, specific tactics. Bixby describes each of the ideas, pulled from her own experience, using relevant examples and including helpful tips and a “success tracker” chart to monitor actions taken. “Quick Fix #3,” for example: “Get rid of just one non-turning or slow inventory item.” Bixby’s capsule case of a client who unloaded $30,000 worth of goods sitting in a neglected warehouse in less than three weeks dramatizes the efficacy of the tactic. Her accompanying advice to “never stock more days’-worth-of-product than 1.5 times your supplier’s delivery frequency” could be an invaluable tip for managers struggling with inventory control. Beyond the seven “quick fixes,” which constitute less than half of the book, are four “bonus sections” that may actually be even more useful than the fixes themselves because they address long-term business strategies. “Really Smart Banking,” for instance, discusses ways to calculate the business value of a company to a bank, effectively work with loan officers, structure bank loans, and extend maxed-out credit lines. The material targets the less-seasoned business owner: the writing is succinct and to the point, and the text uses bulleted copy, lots of subheads, and detailed “action items” at the end of each chapter. These elements make it easy to scan the content and cherry-pick the tactics and strategies most relevant to the reader.
Tightly organized, no-nonsense financial advice that could be especially helpful to company owners who need a quick cash infusion.