If You Sell Small Ticket Items – Great Cashflow Strategy

One of the common mistakes I see business owners make when they smaller ticket items is to invoice the client and then get paid on the 20th of the next month and in many cases 2 months later. This is a killer of cashflow and can really be a huge waste of time and focus having to chase this kind of business.

Here is the simple and most smart solution…

cash flowGet yourself a mobile EFTPos machine and have it with you at all times. When you complete a job get the client to pay for it right away. Most people will be more that happy to pay for the job right away. They have been trained to do business that way. Everyday they buy stuff they need to pay for it right away, so why should that not be the case for you. You should use this for all your sales. If they need credit, they can use their credit card. That is their business how they pay for it. You have done the job and you are entitled to get paid right away. In fact you should have been paid a 50% deposit up front.

The other day I had the company who makes my CD and DVD duplications come and drop of a job they have completed. It was only about $50 and they now have to waste an envelope and a stamp and wait for 45 days for the cash to come in and all that for just $50. I told them the strategy above – but I guess it’s to hard. And I will bet you they will never be a very profitable business (unless they get this one).

Take action my friend and do this today if this is at all possibile for your business.