Keeping Tabs
Steps to take to improve your cash flow.
Business is booming, but you wouldn't know it from your bank account. Clients and customers who take 60 days or more to pay up are killing your cash flow. The solution? When payment times start to creep up, take proactive measures, says Bette Price, founder and president of the Dallas-based management consulting firm The Price Group.
"The most important thing you can do is establish your terms upfront," she asserts. "Negotiate a pay period that works for you and build it into your agreement or contract."
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