The Promise of Prosperity™: Profit Recovery™ (Accounts Receivable Management)

A sale isn’t made until you’ve been paid! When customers do not pay on time, it can take a big chunk out of a business’ working capital. This added financial strain can put any business in a difficult situation. Being able to get money tied up in outstanding customer receivables is essential for business’ to thrive. Internal collection procedures should be developed according to industry standards, and must conform to applicable state statutes and federal guidelines. Knowing how to effectively collect outstanding customer debt is an important tool that will improve your cash flow and help to maintain the general health of your business.

Too often, small-business owners make a sale and move on to the next account—without collecting on what they’ve sold. Just because you’ve sold it (revenue on the books) doesn’t mean you’re making money. The lack of cash flow and capital is the main reason businesses fail. There are several things you can do to make collections more successful and lesson the burden. The bottom line is—a sale isn’t made until you’ve been paid.

My expertise comes from being a former Divisional Vice President/Regional Manager of the largest strategic outsourcing firm of receivables management, servicing more than 60,000 clients nationally. Thousands of businesses have benefited from my general and custom-made workshops; including: wholesales, retailers, manufacturers, universities, doctors, hospitals and law firms.

Steven, I would like purchase your workbook, schedule a workshop and have you do an accounts receivable analysis for my business. I’m sending you an email today with the subject line: I need Profit Recovery!

1. Learn how you can empower your bottom line!

How to effectively read your aging report; understand the cost of depreciation (the silent cash flow killer); a asset or liability—from a bankers perspective; net profit—how much new business is needed to offset losses;

2. Ten ways to improve collections