Accounts Receivable

If you are in the business to sell your product or service to other businesses, cash sales are infrequent. You can collect on delivery (C.O.D.), but most commonly you will send your invoice to the customer or you will include your invoice with delivery of your product or service, and you will wait for your cheque.

Your goal is to collect all the money owing to you, because if you don't collect, you've not only lost your profit, you're in same time stuck with the cost of producing your product ot providing your service.

Manage your receivables well, because they represent a cost. Establish a workable and realistic credit policy, check out your potential customers, monitor your receivables carefully and take action if payment fails to arrive.

Check with credit reporting agencies and bank your potential customers. You have to pay for report, but this cost can help prevent bad debt losses.

Your shipping memo and/or your invoice are usually only formal evidence of credit you'll have, make sure they are signed by the buyer.

For large order, ask for a purchase order before you begin work.

If an order is particularly large, you might ask for a portion of payment before you start the work or ask to be paid in installments.

Marketing Management - This worldwide best-selling book highlights trends and developments in global marketing-with an emphasis on the importance of teamwork between marketing and all the other functions of the business. It introduces new perspectives in successful strategic market planning, and presents additional company examples of creative, market-focused, and customer-driven action. Coverage includes a focus on customer relationship management, partner relationship management, the Internet and its effects and uses, brand building and brand asset management, alternative go-to-market channels, and marketing around the globe.

How to Really Start Your Own Business - W.D.Bygrave, professor of entrepreneurship, Babson College "Gumpert's how-to book is simply the best. No would-be entrepreneur should launch a business before reading this book."

Ultimate Guide to Government Grants - There are more than 25,000 Governmental and Private Foundation Grant Programs available in the U.S. Today. Why haven't you heard about these programs? Because the U.S. Government and Private Foundations DON'T ADVERTISE these programs.

Note: Depending on the requirements of the program, you may or may not qualify for the programs...