Protecting Your Business, and Your Bank Account, in Case Clients Don’t Pay (Published 2016)

Performing the due diligence (application form, UCC-1, credit checks, etc.) Maintaining regular personal contact with the client Record keeping and the reception and disbursement of client/customer funds Providing regular reports to the client and participant.

Some people think I’m reckless for never buying travel insurance, but I’ve got a good reason: My credit card’s already got me covered. Many credit cards automatically carry travel protections at no cost, as long as you use the card to pay for your flight. The specifics will vary by card, but they often include compensation for flight delays or canc

The next given is that you need to have a solid handle on your financials. I love the old saying that if you aren’t managing your cash flow, you won’t be managing much for long. Even great companies—companies with amazing products, outrageously good services, loyal customers, and fantastic strategies—have been reduced to ruin and driven to bankrupt

MANAGING LIQUIDITY AND SOLVENCY

Entrepreneur: My average account in the disaster restoration business was ninety days overdue. That’s one of the reasons I’m not in that business anymore. Greg: In the disaster restoration business, you often encounter disagreements with insurance adjusters, and then the average turnaround on accounts receivable (A/R) is about ninety days. To survi