Learning: steps to becoming a passionate lifelong learner is Russell’s second book. In it, he explains eight specific steps that will teach you how to become a passionate lifelong learner.
Learning: steps to becoming a passionate lifelong learner
Here are some common causes and solutions of cash flow problems in small business:
Lack of Payment Term Discounts
If you deliver product or service without upfront payment, it reduces your cash reserve. Always offer customers discount in order to encourage them to make their payments quicker to receive a discount. Always ask the question “is my actions adding cash or burning cash?”
Lack of Tracking
You cannot achieve success in business without tracking result. Work with a software vendor to track the areas of business (i.e. inventory management, supply ordering, and procurement) where you can improve cash flow to reduce waste and improve turnaround times.
Failure to Perform Credit Checks on new clients
Never do business with a new client without checking their credit. This way you will avoid an untimely payment or a payment default from a business with a poor credit history.
Slow Product or Service Turnaround Times
Shorten the delivery times of products or services to customers to maximize the level of potential profit.
Taking Cash Instead of Credit
Change business structure to where your only methods of payment are credit cards or online banking systems to decrease the wait time for business payments by check.
