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  • Other Added - Ten Ideas to Enhance Cash Flow

    It's All About The Money
    Advertising is a competitive field; there is no question about it. Having been in this industry for over twenty years, I have seen many changes: some good, some bad but the core basics of the business remain constant. What used to take weeks to accomplish fifteen years ago virtually takes days but the flip side of that is that in order to do that, you have to stay up with technology and constantly learn. I often laugh with colleagues that one day my head will truly explode with all the information it is being fed.The reward, however, is the final product and glory for eac
    p>Do you accept credit cards? If not, it is time you evaluated this opportunity. Do you enclose a postage-paid return envelope with your bill to expedite payment? Have you considered offering discounts for prompt payment? When we work with clients, we look at every aspect of their billing process.

  • Collect Your Bil
    Greet to Great - 3 Ways to Master the Welcome
    Are you a Master of the Welcome?Hope so.Because the first words out of your mouth frame the entire customer experience.Consider these two facts:1. According to The Wall Street Journal from February 17th, 2006, you have less than five seconds to make a first impression.2. According to a 2007 report on Hotel Executive, your greeting influences the customer’s perception more than any other act of engagement.That’s how powerful your first words are.With that in mind, let’s explore three ways to master the welcome so you can go from GR
    Managing cash flow is what separates good companies from the truly successful ones. Indeed, your ability to monitor the cash flow of your business can be the vital difference between profit and loss.

    Here are 10 ideas to enhance cash flow:

    1. Assess Your Risk Up Front


      When you do work without being paid up front, you are extending credit. Discuss your billing procedures with your customers up front. "We expect payment in 30 days; is that a problem?" If it is, you need to know ahead of time and make an informed decision about whether you really want to loan your new customer money.


    2. Bill Immediately


      Customers do not pay for what they have not yet been billed. Although many owners believe they have efficient billing procedures, our experience is that delayed billing is a primary cause of poor cash flow. You cannot bill soon enough!

    3. Bill Thoroughly


      Confusing bills provide your clients with an opportunity to delay paying you. Furthermore, be very specific about the payment terms and stick to them. If you expect payment in 30 days, say so; and detail what happens if you are not paid. Do not fear losing business! If you are not now getting paid for work you have done, what is left to lose?

    4. Make Paying Easier


      Do you accept credit cards? If not, it is time you evaluated this opportunity. Do you enclose a postage-paid return envelope with your bill to expedite payment? Have you considered offering discounts for prompt payment? When we work with clients, we look at every aspect of their billing process.

    5. Collect Your Bill
      The Everyday Business Ethics Crisis Or I'm Mad as Hell and Not Going to Take it Anymore
      Breaking news may feature the Enron debacle, WorldCom activities, or accounting problems but we live our everyday business life making ethical choices that affect our employment and businesses. Consider the ethical choices made in these situations:-A restaurateur hired a firm, used the firm’s ideas, benefited from them and refused to pay for the services rendered.-A partner used intellectual property created by another partner for his own personal benefit.-An independent consultant who was hired to sell a particular firm’s services and produc
      ou are extending credit. Discuss your billing procedures with your customers up front. "We expect payment in 30 days; is that a problem?" If it is, you need to know ahead of time and make an informed decision about whether you really want to loan your new customer money.


    6. Bill Immediately


      Customers do not pay for what they have not yet been billed. Although many owners believe they have efficient billing procedures, our experience is that delayed billing is a primary cause of poor cash flow. You cannot bill soon enough!

    7. Bill Thoroughly


      Confusing bills provide your clients with an opportunity to delay paying you. Furthermore, be very specific about the payment terms and stick to them. If you expect payment in 30 days, say so; and detail what happens if you are not paid. Do not fear losing business! If you are not now getting paid for work you have done, what is left to lose?

    8. Make Paying Easier


      Do you accept credit cards? If not, it is time you evaluated this opportunity. Do you enclose a postage-paid return envelope with your bill to expedite payment? Have you considered offering discounts for prompt payment? When we work with clients, we look at every aspect of their billing process.

    9. Collect Your Bil
      Facts on Franchising
      Franchising involves an almost symbiotic relationship between the franchisee and the franchisor. The franchisee provides expansion, additional profit and increased brand recognition while the franchisor provides the basic know how, brand name, supply chain, and continuing support for the franchisee. To pay for this instant business, the franchisee shells out an up front fee or a franchise fee for the use of the business system and the brand name. Moreover, the franchisee has to pay a monthly or yearly percentage of the gross sales to the franchisor. Recouping the investment
      not pay for what they have not yet been billed. Although many owners believe they have efficient billing procedures, our experience is that delayed billing is a primary cause of poor cash flow. You cannot bill soon enough!

    10. Bill Thoroughly


      Confusing bills provide your clients with an opportunity to delay paying you. Furthermore, be very specific about the payment terms and stick to them. If you expect payment in 30 days, say so; and detail what happens if you are not paid. Do not fear losing business! If you are not now getting paid for work you have done, what is left to lose?

    11. Make Paying Easier


      Do you accept credit cards? If not, it is time you evaluated this opportunity. Do you enclose a postage-paid return envelope with your bill to expedite payment? Have you considered offering discounts for prompt payment? When we work with clients, we look at every aspect of their billing process.

    12. Collect Your Bil
      Smokin' Up a Storm: Clothing, Smokers, and the Job Interview
      You’re nervous. You’re so nervous that you crave a smoke. So you light up, and as you puff away, it feels so relaxing, right? Well, what’s good for your nerves is not so good to when you’re job hunting.What?! What does smoking have to do with job hunting? It has to do with the fact that if you-the job hunter-are a smoker, and your interviewer is a non-smoker, then your chances of getting hired are very slim.And yes, legally, an employer can’t say “You’re a smoker, I’m not going to hire you!” However, it is an unofficial fact that if all things are equal, a no
      elay paying you. Furthermore, be very specific about the payment terms and stick to them. If you expect payment in 30 days, say so; and detail what happens if you are not paid. Do not fear losing business! If you are not now getting paid for work you have done, what is left to lose?

    13. Make Paying Easier


      Do you accept credit cards? If not, it is time you evaluated this opportunity. Do you enclose a postage-paid return envelope with your bill to expedite payment? Have you considered offering discounts for prompt payment? When we work with clients, we look at every aspect of their billing process.

    14. Collect Your Bil
      How The Internet Can Replace The Newspaper Classifieds When Looking For A Job
      I was stuck in a dead end job. No room to move up. Waiting for a year for a quarter raise. Don’t get me wrong. I liked my job, I just wanted more. I couldn’t see doing what I was doing for the next 20 years and retiring making a measly five dollars more a year than what I started at. I needed help. So with that in mind I decided to take a look at what else was available. I had already browsed the newspaper classifieds with not much luck. They had a few maybes, but not anything that I was really interested in. So the next step was looking for home jobs online. I discovered there
      p>Do you accept credit cards? If not, it is time you evaluated this opportunity. Do you enclose a postage-paid return envelope with your bill to expedite payment? Have you considered offering discounts for prompt payment? When we work with clients, we look at every aspect of their billing process.

    15. Collect Your Bills


      Receivables are loans your company provides to your customers or clients. Unless you really want to be a banker, develop a protocol for your collection effort that begins the moment a bill leaves your company. History has demonstrated that the lack of a well-developed collection protocol is the primary cause of poor cash flow.


    16. Cut Unnecessary Expenses


      Reduce the cash that is going out. Carefully examine your fixed expenses. Look at your utility bills and implement a conservation program. Review your insurance premiums to be sure you are not over-insured. How many subscriptions and memberships are really needed?


    17. Time Your Payments Carefully


      Review all of your vendor bills to ensure that you are taking advantage of any discounts. Delay all non-discounted bills as long as possible.


    18. Put Your Cash to Work


      First, make daily deposits! Second, make your deposits before the bank stops its daily transactions (2:00 PM - 3:00 PM). If your mail arrives late, get a post office box to speed up delivery. Finally, transfer idle cash into interest-bearing accounts. Even at 2% or 3%, this money adds up.


    19. Evaluate Your Payroll Schedule


      Consider changi

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