Cash Flow – How To Collect 98% Of Business Debts In 28 Days
The most common cause of businesses failing is a lack of cash flow. Cash flow is the money coming in, compared to money going out.
Your business plan will identify where, and when, your major business expenditures occur. These are unlikely times when your income is at a maximum.
Businesses often run into cash flow problems because their customers delay paying their bills, or when their customers cannot pay their bills at all.
Many individuals delay paying bills until they have to. All companies do this, because it improves their own cash flow position and because the companies that owe them money are doing the same thing.
When someone starts a business it usually comes as a surprise when debtors do not pay their bills on time. The company owing you money knows that you want to keep their business, so you are unlikely to chase them for debt collection immediately or aggressively.
The attitude your customers, your debtors, take is that your cash flow is your problem. If your company fails then there are plenty more suppliers they can turn to, and meanwhile the money they...
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