Figure out your sales margin
What happens when you have a large order for your business? Does one large order require you to run with a full staff and does it take them away from all of their other job responsibilities? How about smaller orders? Do they take up some of your employee's time but allow your employees to also focus on their other job responsibilities?
Writing better collection letters
Do you have customers that just flat out refuse to pay their bills? If you are tired of dealing with the customers that don't like to pay on time, writing credible collection letters can help you force these customers to actually pay their bills. There is some comforting news for you, a lot of small business owners do not know how to write collection letters as they aren't sure what to include in the letter. A good letter must include a few important details that will get the customers to pay and then convince them to keep ordering from your company in the future.
Surefire tips to make sure your customers will pay on time
Tired of waiting 60-90 days for your customers to make their payments? If you are tired of waiting, there are some things you can do to make sure your customers are paying on time.
Is your business model to blame for your poor collections?
If your customers are struggling to pay you on time, who is to blame? Is your collections process failing or do you have a bad business model that is causing issues for your customer? Just having enough customers to keep your distribution center busy doesn't mean you are actually making money, it means you are shipping products and waiting to get paid. Every business has varying degrees of how many customers actually make their payments on time but unfortunately for many businesses about 20-30% of their customers fail to pay their bills.