July 18, 2005
Offshore Strategies and Services
Offshore strategies may or may not be right for you. Moreover, there is a right way and a wrong way (legal and illegal) to execute offshore strategies. If you choose the wrong way you may wind up worse off than if you had done nothing at all.
You need a principled, experienced offshore consulting firm to give you the right answers. There are hundreds of offshore service providers on the Internet. But who are they and, just as importantly, where are they? If you have never used offshore resources to protect your financial future because you just couldn't be sure with whom you would be dealing, you were correct to be concerned.
Many of these Internet promoters seem to exist only in cyberspace. They prey on fools with unrealistic goals. Use your common sense and choose a consultant just as you would a lawyer, doctor or accountant. Research who they are and where they are - physically, not just a domain name or email address. Get references and check for licenses or registrations.
Offshore Goals
What are your goals? If your goals are unrealistic you are a perfect candidate to get burned by unscrupulous promoters as they will be the only ones willing to promise you the moon.
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Five Quick Ways to Speed Up Cash Flow
At one point or another, almost every business runs short of cash. Whether due to normal fluctuations in demand or an unexpected decline in sales, cash shortfalls are the bane of every company, and are responsible for sleepless nights for many business owners.
Yet, there are a number of simple ways that you can reduce your dependence on your company's line of credit and increase the cash that you need. Here are five no-cost methods to try:
Increase Receivables Collection Efforts: This is the easiest and fastest way to generate cash but, surprisingly, most companies do a terrible job of it. Start by calling all customers whose invoices are between 25 and 30 days old to ensure that they have your bill and to find out when it is scheduled for payment. These are the easiest collection calls to make and they often result in faster payment. And, it allows you to quickly rectify problems that may delay your check.
Get Payment In Advance: Another often overlooked technique is to simply ask customers for advance payment, or for a partial payment for goods and services. This approach is especially valid with large purchases, or on work where you'll incur significant expenses before being able to deliver the final product. Most customers will agree to such a request without asking any questions.
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