There is no straight forward answer to your question. The strategies for effective cash flow will vary depending on several factors such as your cash need, size of your company, overhead to just name a few. There are numerous websites out there which can walk you through creating a cash flow statement. Once you prepare a cash flow statement, you will start to get an idea of how to prioratize your cash spending which will help you effectively manage cash.
I can provide a free consultation. You can reach me directly or post your additional questions here on the forum.
As the Accountant said, "there is no straight forward answer to your question".
Without knowing you or your company, here are a few suggestions to wring max cash power out of your business.
Decrease cash expenses
Good luck, LUCKIEST
I agree with what was stated above, however, I would add that regardless of all that, all businesses need to build business lines of credit and have business credit available when they don't need it to help level out cash flow for short term situations.
Most businesses will never be able to get credit when they need it so you have to build it when you don't need it. Be careful though, I was posting about this in another thread in answer to another question and another poster mentioned all the scammers involved in getting business credit and so I Googled it. I would say most of those are not the type of people you want to deal with. I would suggest you only deal with people who have themselves done it and DON'T get paid anything for referring you.
Another thing as an accountant and business owner,that I've always done and recommended to friends, clients and associates and that is to have a "Set Aside" account. This is a separate asset account on your balance sheet and have it be a totally separate bank account.
Figure a certain percentage of gross sales and put it in the "Set Aside" account just like it was a bill to pay. Even starting at a low percentage this can add up. Then you will have extra cash available when you REALLY need it. The key to this as with any type of savings is to NOT take it out routinely and ONLY use it if a REAL emergency.
So, to summarize, build a good line of business credit AND set up a Set Aside savings account.
In addition to the other suggestions, it's important to understand where your cash is going. Prepare a cash flow projection which is a tool that will help you track your cash flow and also allow you to project your cash flow in the coming months. I update my cash flow projection every month and don't make a large purchase before checking to see how it will affect my cash flow.