Keep your cashflow under control (2)

This is the second of the series:

3. Keep costs down – Review all your cost items (including products and energy) and relate this to efficiency. I have read that turning off one PC overnight can save over £50 a year.

4. Run a credit check on customers and potential customers – look at the credit histories with a view to eliminating late or non-payment. Try to instil in your staff the thought that ‘a sale is only valid when the cash is in the bank’. Before accepting an order ensure the customer/potential customer accepts your payment terms – in writing. It is also essential to enforce your payment terms and if a customer doesn’t pay, put them on a stop.

These are my thoughts and information from various other sources. Your comments or observations are welcome.

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