- Check every invoice for accuracy and its pay date?
- Protest bills that come in higher than quoted?
- Avoid paying bills earlier than they’re due – unless there’s a good discount for paying early?
- Pay bills on time to avoid penalties?
- Keep your overhead as tight as possible by saving energy, using equipment until it officially dies, and utilizing every inch of space to avoid moving?
- Negotiate costs and discounts for tangibles and services, then establish a slower payment plan in writing?
- Use long-term loans instead of short-term loans to slow down cash outflow.
No business planning is more important than weekly (or daily) cash flow checking and projections.
Don’t “look the other way” when it comes to your cash. It’s too important. If this task seems overwhelming, contact us for a free 1-hour consulting appointment at http://www.elwellinc.com/. Together, we can get a grip on your money.