1. Invoice Immediately
Don’t leave it until later. Write the invoice as soon as the job is done.
2. Take Deposits
Ask for an upfront payment or split the payments into thirds – upfront, during and after.
3. Chase Debtors
If a payment is one day overdue contact your customer. Keep calling. Squeaky cogs get the oil!
4. Manage Bills
Don’t pay earlier than required. Pay on your supplier’s due date.
5. Review Expenses
Don’t fall into a rut. Check that your long term suppliers are still competitive.
6. Sell Invoices
An invoice finance company will buy an invoice from you and give you cash for it straight away.