With all the talk of the credit crunch

With all the talk of the credit crunch and recession in the news, it's easy to start to feel nervous about the future. Here are a few tips to make sure your business can ride out any rough waves.

1. Watch your cash closely

Make cash and cashflow the priority in all your deals. You might be about to win the deal of your lifetime but if it means committing serious cash Nike Shox Dreams,and relying on income streams from the future you may not be around to enjoy it. Think about how you maximise cash in, and minimise cash out in everything you do.

2. Create reliable cashflow forecasts.

Make sure you know if things are going to get tough in the next few months so that you can prepare for them.

3. Look at where you're spending and consider the value.

Many companies gather a lot of little recurring costs and expenses along the way and they're forgotten about. You can save a lot just by Nike Blazer,reviewing where your cash is going in the business.

4. Look closely at your working capital.

In tough times, your customers will try and stretch out their payment terms and your suppliers will push for early payment. Keep to the contract terms and try and negotiate for improvements.

5. Credit check your customers.

You don't want to be caught out by a customer going bust while still owing you a chunk of money. Keep close tabs on any poor payers.

6. Review your marketing.

Are you still using marketing messages designed for a fast growth boom market? Perhaps you need to reconsider the current economic Nike Shox Rivalry, climate and take a leaf out of the recent M&S "a meal for 2 for under ￡10" campaign.