Protecting Your Business, and Your Bank Account, in Case Clients Don’t Pay (Published 2016)
Paul Sullivannytimes.com
Protecting Your Business, and Your Bank Account, in Case Clients Don’t Pay (Published 2016)
Some areas of opportunity: • First, stop saying, “Well, this is just the way it is in our industry.” • Have your available cash reported DAILY, with a short explanation of why it changed in the last 24 hours, and chart it against accounts receivable (AR) and accounts payable (AP) weekly. You’ll learn so much more about your business when you see ho
... See moreVerne Harnish • Scaling Up : How a Few Companies Make It...and Why the Rest Don't (Rockefeller Habits 2.0)
Instead of chasing non-paying customers after the fact, wouldn’t it be better to assess that risk up front and decide if you even want to accept that sale? We tell our clients, “We’re glad to have your business. These are our payment terms. If you don’t pay us in 30 days, we’ll charge you 2 percent of the outstanding invoice.” You don’t become succ
... See moreDawn Fotopulos • Accounting for the Numberphobic: A Survival Guide for Small Business Owners
Client Management: Don’t Lose Them in Your Small Business
Facing the situation of losing clients creates a drop in energy and work. But if it is handled effectively, then the business will be a success.
It feels so hard when you lose even a single client in your small business. Small business owners in the initial stages usually deal with a smaller n
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