June’s “12 Seasons” is all about a new, fresh look at what’s going on in our business world and what our responses probably ought to be.
How, at mid-year, to improve cash, credit, clients? Well, how about a brand new focus on those three areas: commission three tiger-teams in your company (or your peer or presidents group) to brainstorm, research the internet, and concoct unusual or maybe untried responses.
Here are some ideas: 1-replace your prompt-pay discount with a prompt-pay rebate, payable the following month (thanks to Abe WalkingBear Sanchez for this idea); 2-ask for cash deposits on orders; 3-teach your customers inventory earn-&-turn and DSO-tracking to improve their cash-flow, and they’ll likely return the favor of prompter pay to you; 4-lease items instead of buying; 5-outsource just about everything.
We’ll continue to publish tips like these at , so please visit our weblog and other great blogs regularly for ideas. We’re just now publishing the updated “Top 10 Tools for Financing Businesses” which might be helpful to you.
Once again, helping each other through this recession/recovery is our goal!
With best regards, Kraig Kramers