Taking your business public, pros and cons
Taking your business public is a big decision. It is an expensive endeavor to take your business public, even for the big companies. Taking your business public is also a time consuming process both before and after the company has gone public. You will lose some control of the company since you now have to keep your investors involved with some of the decisions. There are pros and cons involved with taking your business public, here are a few things to consider:
Once you go from being a private company to a public company, you will sell securities to the public. This means that your close friends and family members will not have control over the operational status. Taking your business public will help to raise your company's capital, which is always enticing.
Continue reading "Taking your business public, pros and cons"Getting customers to pay on a timely basis
For many businesses, getting their customers to pay on a timely basis can be a bit of a challenge. Fortunately there are a few options available to help you make your customers pay faster.
Some businesses have added a clause to their invoicing methods and inform the customer up front of a penalty for late payments or a reward for timely payments. The early payment discount plan is that you will knock of a certain portion of the total amount due if you receive payment within 5-10 days after the date of the invoice.
Continue reading "Getting customers to pay on a timely basis"
How to check the credit status of your customers
For banks or business, customers are a crucial part. Without customers there is not business. It would be a one sided liability. You would buy a bunch of stuff you do not need and through a lot of money away. But because customers need things and consume a lot of things these days, businesses stay in business pretty well.
Some customers are ordinary people that go about day-to-day and buy things like groceries. Some customers are businesses that are looking for supplies in bulk. Some customers are businesses looking for loans. A customer is simply a person who comes to your business and buys your products. They are a customer to your store.
Continue reading "How to check the credit status of your customers"How can I get my customers to pay on a more timely basis
What are the Top 10 ways to get my customers to pay on a more timely basis?
What to do when customers wont pay what is owed
Even if you run a really good business and do really great work, you will occasionally find a customer that is never satisfied with what you do. Generally these customers will still pay what they owe you, despite their dissatisfaction. However, what do you do when customers won't pay what is owed? What are the next steps to take? Here are some things that you can do when customers won't pay what is owed:
What to do when a client's check bounces
It can be very frustrating when a customer writes a bad check and then they avoid contact with you. Bad checks don't happen all the time, but there is the occasional client who writes a check that bounces. So, what do you do when a client's check bounces?
There are a couple of things that you can do when a client's check bounces
Run the check again.
Run the check through the bank a second time. It is ok to double check to make sure that the transaction was done properly. Some call the bank first before making the second deposit attempt. If the check bounces again, it's time for step 2.
