Best Practices to Collect Cash from Customers Faster

In this episode of "Keep What You Earn," Shannon discusses the often overlooked aspect of business - collecting cash from customers. She shares the importance of distinguishing between sales contracted and cash collected, offering valuable insights into accelerating cash collection and setting clear policies for overdue payments. Shannon emphasizes the role of accountability in managing cash flow and provides practical tips for handling outstanding invoices. Tune in to learn how to effectively navigate the financial side of your business and ensure a smoother cash collection process.

What you'll hear in this episode:

04:14 Monitor cash flow and celebrate sales cautiously.

08:54 Initial follow-up, escalate to termination if necessary.

11:47 Offer flexible payment options to improve collections.

If you like this episode, check out:

How to Generate Cash Without Increasing Price

The Best Places to Look to Find Cost Savings

Supercharge Your Income Goals for Real Results

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.