cash flow

Three Reasons Your Business Is Losing Money

If you’re a small business owner, manager or anyone that is responsible for profitability, you very well know the struggles of maintaining good cash flow. And you rely on that cash flow to stay in business. You have to make payroll, keep the lights on, purchase products and the list goes on. In short, many small businesses are not that far away from being in a cash flow crunch.

Did you ever stop and try to figure out why your business might be losing cash? Whether you are running a lawn care company, a medical or dental practice, a karate school or other business, we know you could […]

2015-11-18T16:01:08-05:00November 18th, 2015|Categories: Advice for Businesses|Tags: , |

Cash Flow 101 Part 2

I gave you a few tips recently on managing your cash flow and I have a few more for you. We talked last time about billing on time. I can’t say it enough. Bill on time…It’s the cornerstone of a well oiled accounts receivables system. As someone who has worked at a collection agency for over 20 years, I have seen far too many times, businesses coming to seek the assistance of collection agencies only to find they have not paid attention to the basics. That and professional accounting software were my last two recommendations.

Here’s a couple more:

Make sure your customers understand your billing policy right up […]

2015-10-01T07:53:36-04:00October 1st, 2015|Categories: Advice for Businesses|Tags: , , , |

Cash Flow 101

A common question we hear all the time as a collection agency: How can I improve cash flow in my business? It’s one of the main questions collection agencies get.

There are a number of things you can do to keep up on cash flow at anytime during the year, whether you’re a lawncare or landscaping professional, plumber, medical or dental professional or any other type of service industry. I’ve been working in debt collection for over 20 years and I’ve seen many mistakes that could have been solved with just a few extra resources and thought.

Here’s a couple and more to come in future blogs:

Always bill on […]

2015-09-29T09:45:29-04:00September 29th, 2015|Categories: Advice for Businesses|Tags: , , , |

Don’t let your cash flow take a vacation

Summer is upon us as well as vacation season and long weekends. And for many that can mean a few critical tasks taking a back seat in your business. One regular task in your business that should stay front and center is invoicing and follow ups. Regardless of the time of year.

One of the biggest factors in any business growing is cash flow. Lack of cash flow is responsible for not only stress in a small business but it can cause a business to go under in no time. Imagine, coming back from a nice relaxing vacation only to find you have very little cash in the bank. […]

2015-06-24T09:26:11-04:00June 24th, 2015|Categories: Advice for Businesses|Tags: , , , , , , , |

Don’t Start The New Year Behind

So, New Year’s has passed and you have seen just about every article and social media posting there is about how to make and keep your New Year’s resolutions. We all know the common ones: lose weight, exercise, get up earlier, make more money, etc…

What goals have you set for your business? Well that last one we mentioned, make more money, might be easier than you think. In fact, many businesses are leaving huge amounts of money on the table. You either don’t know it or you choose not to pursue it for any number of reasons. Now is the perfect time to resolve to make more money by making sure you’re getting the money […]

2015-01-12T11:45:33-05:00January 12th, 2015|Categories: Advice for Businesses|Tags: , , , , , |

Collection Agency Efforts Echo Those of Niagara Falls Preservation

Recently my family and I visited Niagara Falls for a quick weekend vacation. Being a Buffalo native growing up so close to the falls, I always took for granted what an amazing feat of nature they really are.

I always knew that people have harnessed Niagara Falls to provide electricit048y, but never knew that those efforts are also helping to preserve the falls. Left alone, the falls would erode at a rate of 10 feet per year. Because people have been diverting much of the Niagara River that would eventually reach the summit, the erosion rate is now only about 1 foot per year. In fact, they estimate that […]

Why It’s Important to Use a Collection Agency Sooner

It’s critical for a business to stay on top of their receivables and it’s equally important to partner with a reputable collection agency sooner rather than later. Due to the importance of this subject we have put together some advice for businesses.

One solid fact about getting paid for your services is that the longer you wait to implement a collection procedure, the harder it is to get paid. Early intervention is a major factor in getting paid. The longer your bill stays out of the mind of your late or non-paying customer, your chances of getting paid are greatly reduced.

Sending out invoice after invoice without creating a sense of urgency with the customer proves to […]

2014-01-24T12:00:50-05:00January 24th, 2014|Categories: Advice for Businesses, Uncategorized|Tags: , , , , |

Collection Advice for the New Year

Our customer service department works with clients on receivables and collections on a daily basis. Some advice they give our clients for this time of year is to make sure your bill is a priority for your customers.

During the holidays people tend to overextend themselves, and spend a lot of money, so there are a lot of bills out there. Also, with winter there are a lot of other expenses out there including snow removal and heating oil. It’s important to let your customers know that you expect to be paid before they make other financial commitments.

The longer a bill is out there the harder it is to collect. As time passes people prioritize their […]

Why should my business use a collection agency?

Businesses are sometimes hesitant to use a collection agency because of the less than favorable media attention our industry gets from time to time. However, if you work with a reputable collection agency that focuses on morals and ethics, there are clear benefits to having them by your side when trying to get paid.

Using a collection agency can preserve the relationship between business and customer. Getting help early in the process of collections will lay the groundwork for a faster resolution and will give you an improved chance of keeping your customer for the long term.

A reputable agency will not only take over the collection of accounts you give them but will also give you […]

2013-12-18T14:40:07-05:00December 18th, 2013|Categories: Advice for Businesses, Ask APR|Tags: , , , , , |

New Year Business Goals

Aside from making New Year’s resolutions in your personal life, you should make a New Year’s resolution for your business to keep a better eye on your cash flow. You might think you have a handle on it, but there is always room for improvement.

Cash flow is the key to every successful business. Keeping track of your receivables is something you don’t want to let slip.

Here are some things to consider:

1.  Who owes you money? : Get a firm handle on who owes the business money and create a plan to get your customers current. Always pay close attention to your outstanding receivables.

2.  Review your procedures for getting paid: Take a hard look at what […]