Five Helpful Tips on Increasing Your Cash by Managing Receivables

By Action Coach Dave Beam

Today I want to put some more cash into your business.  It is simple and essential for an ongoing healthy cash flow.  You must choose to manage your receivables.  Here are 5 tips to improve the management of receivables:

TIP #1: Create a system to receive payment for goods and services as close to the time of delivery as possible.

Some businesses are a completely cash business.  They collect their money at the time of service.  That is a good thing.  I encourage you to work towards this model as much as possible.  Create your system of payment for services and/or goods to be a close to the time of delivery as possible.  In fact, ask yourself this question “How could I get my customer to pay for goods and services in advance?”  Incentives for pre-paying or paying when goods and services are delivered are a wonderful way to address this business challenge.

Proactivity – Living Life Inside-Out

By Action Coach Dave Beam

People engage my coaching services because they want change.  They typically want a change in their cash flow, a change in their customers, a change in their employees, or a change in their discretionary time.  The good news is that all of this is possible.  The interesting news is you really can’t directly change any of those things.  To affect sustainable change, you must accept the fact that you can really only change yourself.  When you change, you become more effective in influencing your environment.  It is an inside-out process.

The Power of Routine

By Action Coach Dave Beam

I would like to address an issue that used to make me groan – discipline.  The picture that comes to my mind when I think of that word is sweat, toil, deprivation, and pain.  No pain, no gain, as the saying goes.  If you have similar feelings and pictures when the word discipline is mentioned, it may be why you avoid or resist any changes in your life associated with the concept.

Well, you can lower your resistance to making positive changes by dropping the word “discipline” from your mind and replacing it with a milder, friendlier concept and term – routine.