Cash flow is a key factor in business success Austin Seibert Browns Jersey , and this is especially true for small businesses. Selling your goods or services is the first step, but unless you are able to manage your cash flow well, your business will suffer as you will not be able to pay your bills. Here are some tips to help you improve your accounts receivable management:

Do your customers pay now or pay later?

To some extent, the answer to this question depends on the type of business you run. For example, if you are selling professional services Sheldrick Redwine Browns Jersey , most people will assume they don't need to pay until some time after the service has been provided. In effect, you are lending money to your customers! There's no reason business owners offering professional services have to operate this way; you can choose to ask for payment at the time services are rendered. This is often well-received by customers, and you can always make exceptions for certain services or for certain customers.

Do you make it easy for your customers to pay you?

Paying for goods at a retail store is easy; you simply hand over cash, your credit card, or perhaps a check. Do you offer the same payment options in your business? Customers will be more likely to pay immediately if they are able to use their credit card Sione Takitaki Browns Jersey , and it is unrealistic to expect payment at the time services are rendered if you don't offer all of the options that are generally accepted payment methods. You may even want to consider asking for payment in advance; think of the last time you stayed at a hotel - you probably had to allow the hotel to place a 'hold' on your credit card, with payment to be processed after the service had been provided. There is no reason why you cannot institute a similar system in your own business.

Do you accept progress payments?

Perhaps it is not feasible to ask your customers for payment in advance; if this is the case, have you considered requiring a percentage of the total cost before services are provided, with progress payments as the service is provided? This idea can benefit both the business and the customer as the business is receiving regular payments and the customer can see that they are 'getting what they paid for'.

Do you have credit limits for your customers?

Setting credit limits for your customers is an essential part of minimizing your risk when running a business. While it's true that setting credit limits is often just as much art as science, there are some general principles to keep in mind. New customers should be treated with caution when extending credit. Asking for (and checking!) business references can give you some indication Greedy Williams Browns Jersey , but this is not foolproof. In general, new customers should expect to have to 'prove themselves' to you. It's a little easier with existing customers but always remember that the amount of credit you extend is the amount you could lose if the customer cannot pay.

As a general rule, for small customers, base the credit limit on the amount they can afford to pay; and for large customers, base the credit limit on how much you are willing to risk. Every day millions of employees go to their place of employment for their employers to use their time and effort to build a business --- a financial future David Njoku Browns Jersey , without any "REAL" consideration for their employees future!

In Network Marketing, however, we do things much different. While all of us continue to gather customers, we also assist each other in building a business and a GREAT future. This is the true meaning of the words "Network Marketing." We network with people, assist each other Myles Garrett Browns Jersey , and get paid for work that is done one time! It's AWESOME!

In the JOB (Just Over Broke) world, your employer leverages YOUR time. But, in Network Marketing, YOU leverage your own time and the time of others! Your employer has tons of overhead to deal with. In Network Marketing, you really don't have that.

Employees are the biggest liability an employer has. In Network Marketing we have business partners all working with our T.E.A.M. (Together Everyone Achieves More). We don't have all the issues a commercial type company has. We have our initial start-up fee Nick Chubb Browns Jersey , which typically runs anywhere from a little under 100 dollars to a little under 500 dollars. There are others that have a higher start-up fee, but they are few and far between.

One of the biggest reasons people fall short in this Industry is because, for some reason, they feel that a marketing budget is unnecessary. They don't advertise, prospect Denzel Ward Browns Jersey , or seek out the knowledge and support they need in order to be successful. They don't treat their Network Marketing business as a REAL business. This is a BAD mistake!

You must remember that you own a REAL business! You don't have a boss to answer to because YOU are the boss. Your success or failure is completely OWNED by YOU! No one else!

So, you need to get down to it and go to work gathering customers! Some of those customers will want to be business builders. So, you will need to assist them in getting started, and then continually coach them to success. Two to five years of continuous effort should bring you GREAT success.

You will need to put in 5 ? 20 hours per week in building your business and assisting others to do the same. You will also need to have a Marketing Budget. It can be a small budget, starting out. But Baker Mayfield Browns Jersey , you will need one.

REMEMBER: You own a REAL business! It's YOUR business! So treat it as such! It's not a "get rich quick" scheme, or anything like that! It is a REAL business!

Our Industry is primarily built on "word of mouth" advertising. This has always been the most effective way to advertise. You go to a movie. You tell others about it. They go. They tell others. And, it continues. It is the same when you find a store that you like. You tell others about it. They, in turn,. Wholesale Authentic Jerseys Wholesale Cheap Jerseys Wholesale NHL Jerseys Wholesale NFL Jerseys Online Wholesale College Jerseys Free Shipping Wholesale NBA Basketball Jerseys Cheap College Jerseys Cheap Cheap Jerseys Wholesale Jerseys China Wholesale Jerseys From China