The best way to avoid losses from nonpaying accounts is to stay focused on keeping your customers current. According to the Business Owner Newsletter, if one of your accounts falls past due by more than 180 days, you will lose 33 percent of the dollars owed. So how can you minimize delinquencies?
Small-business owners don't have the luxury of a large staff to prepare complex business analysis and planning strategies, but they can still benefit from conducting an annual business checkup.
When a company is in its start-up phase, it is easy to get the financial and product development arms of the business to agree on how resources are spent. There is no cash flow from existing products and services; everything is opportunity cost.
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Upsize is a magazine and online resource center with a single mission: to help Minnesota's small-business owners build bigger and more profitable companies, and to connect CEOs with the people, products and ideas they need to grow.
"It is tempting to believe that you need your Web site up and running 24 hours, 7 days a week, every week of the year. And that you need five-minute turnaround on your support calls.
