Over the years, we have all witnessed many great companies lose their way because they only focused on two (of the THREE) most important elements in running a business;They are:
1) gettin' jobs IN (sales)
2) gettin' jobs OUT (production)
...and the most important one of all;
3) gettin' PAID! (cashflow)
While the first two are crucial to the success of any business and should be a top priority when planning, the most important one (and often overlooked) is "gettin' paid."
Cashlow, profit, sales, volume, profit, cashflow, sales, volume, PROFIT (get the point?) are not bad words and strict payment policies should be in place from the very beginning so your new clients understand what your terms are and do not be afraid to enforce them if they violate your policies.
How many times have you heard the story about a client that owes a vendor a bunch of past due money and they promise to pay if they could only get one more rush job by Friday? Then, the owner agrees to do it out of fear of losing a "good" client and ALL the money eventually winds up becoming bad debt because the owner was afraid to freeze the account or produce the new work COD while payments were to be made on the past due balance.
Its painful to think about especially in these already troubled times so do yourself a favor and make sure you take care of all three gettins' from now on ... it might just save your business.
For more information and online samples, visit: http://www.redrockprinting.com/
Email: tombello@redrockprinting.com
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Text or call: (561) 289-5916
Fax: (561) 620-1802
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