Are you tightening your receivables?
November 12, 2008
I love this article. It’s a crash course in small business survival in tough markets. But unlike the slew of articles online that do a whole lotta “this economic environment is not good” and not a whole lotta “so what are you going to do about it?” this article provides some blunt advice about how you should be approaching inventories, cash flow policies and what you should be spending your business’s money on.
One of the main points of the article has to do with cash—you need to have more control over your cash flow. The editorial team here at Window & Door has heard some grumbling about vendors tightening up their payment terms so we’re testing these waters with our readers. Has your company reined in your accounts receivable terms? Have you taken other steps to have more control over your cash? Send me an email if you care to share—I’ll understand if you want to keep a lid on your identity.
And take a minute to read this article…I think it’s a good reminder of business basics.