Increase Your Cash Flow Immediately by Doing This Simple Thing
Cash flow is all about timing. You can be profitable and still go bankrupt if you don’t have enough cash to pay your bills.
One of the easiest ways to generate better cash flow is incredibly simple:
Pay your bills more slowly and collect the money owed to you more quickly.
Voila.
It’s a simple concept.
But simple is not always easy.
On the Payables Side
Here are some tips on the accounts payable side of the equation.
Establish a relationship with your vendors (the companies or people who sell you the services or materials you need to make your products).
Part of this relationship should include negotiating terms of payment.
You may not be able to negotiate terms the first time you buy from them, but over time, if you develop a relationship of trust, you can talk them into giving you terms.
Terms would be something like not paying a deposit on your orders, or not paying upon delivery, but paying thirty days or more later.
All the big companies do this.
