3 Tips to Make Your Cash Flow

June 6, 2014

1. Get as much information during the “Getting to know you phase” of your business. When you first meet a consumer and before the exchange of goods and/or services, the more information you collect up front, the easier it will be to collect from them later in the process.

2. Ask for payment when the consumer is standing in front of you. This seems simple and obvious but think about at what point you say, “The balance due in full today is …” Not asking for payment in full at the time service is provided is the #1 way to watch money walk away!

3. Adopt and implement a collection strategy as if your business depended on it! Whether you collect your own delinquent accounts or use an outside agency, consistency is the key to success. Make it a habit and the habit will Make Your Cash Flow!

 

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