The situation might look dire. You haven’t hit the mark on your projected earnings this year, or some invoices are still unpaid. Well, don’t worry, the bright side is that there is a way out. Here are some tips on how to survive a cash flow sump:

Stay Motivated

When the going gets tough, the tough get going. This is the time you need to be on top of your game. Try to see past the adversity, and more importantly see this as an opportunity for improving, both your business and yourself as a manager.

Delay the Founder’s Compensation

A key way to ramp up some funds is to temporally give up the founder’s compensation. You will take a slight hit in the short run on your personal cash flow, but the company will pay you back more in the long run.

Offer an Annual Discount

If you have a service which charges customers monthly, you can offer a one month discount if they pay for the whole year in advance. This will bring in a huge inflow of cash when you need it.

Eliminate Unnecessary Expenses

This might seem obvious, but until you get down and dirty, and look through your bank statements and your expenses, you won’t know how much cash is being spent on cash flow negatives that will bring no returns in the long run.

Re-engage Former Customers

Reach out to former customers and make a compelling offer. You’d be surprised how many of them would still be willing to do business with you. Re-engaging old customers is a great way to get a surge in sales and cash flow.

Consolidate your Vendor Deals

Look for discounts for whatever you purchase in bulk. Negotiate contracts with fewer vendors and get the best deals possible, on not just for the essentials for your business, but for anything that comes in. This could mean anything from headsets to paperclips.

Rethink your Salary Structure

In tough times, you might look at reducing base salaries and giving higher bonuses or commissions. This not only cuts expenses, but it also encourages employees to meet goals and focus on the success of the company.

Charge Up-Front Payments

You could do this two ways. You either ask for full or partial up-front payments, depending on your clients’ loyalty. This is a quick sure-fire way to build up capital in slow times.