How many customers take longer than 30 days to pay on their invoices? Congratulations! Your business has just extended credit to your customers. You may not have thought about it this way, but you are now in the banking business. Even worse, you probably have the best rates in town. … [Read more...]
How to Be Sure Your Business is Paid!
I just received a large order from a local company - should I take it? This is what I call the 'ship and hope" syndrome. In other words, fulfill an order; ship the product and 'HOPE" to get paid. In today's economy, not knowing the credit (payment history) of your clients is a recipe for disaster. Unfortunately, I would estimate that over 90% of the businesses … [Read more...]