As the year 2015 starts with slow signs of economic recovery, Kevin Minton, CEO of Chief Executive Boards, recommends four tips to plan a financially successful year.

First of all, it is important to check the accounts receivable and have the customers to pay up. The new year’s sales, regardless how good they are, must be paid in cash to continue operating the business. Acknowledge the significance of healthy cash flow; create, and practice, a system that helps you maintain a healthy cash flow. Thirdly, set your sales goal for the new year in advance, based on realistic projections and numbers. Lastly, try new marketing strategies, using the Internet, mobile marketing tools and local advertisement, after careful consideration of your target customers and potential competitors.

See 4 Things Every Business Owner Should do to Have a Financially Happy New Year, Kevin Minton, Chief Executive Boards Blog.

Posted by Jin Keol Park, Associate Editor, Wealth Strategies Journal