Better cash flow makes your business success, but everyone knows the reality that customers don’t always pay on time and the result gives you the shortage of cash for operating further things and growing your business.

There are soo many small business owners who are still not in a position to bully their customers for writing a check. Because at starting they manage to build a good relationship with their customers but still money is the main thing which can lead your business growth right? So here are some tips how you can speed up the process of delaying money.

1. Invoice management

Make sure the information in the invoice is correct, eliminate some excuses which customers say in common and most of the time. The sooner you send them your invoice the earlier you will get the payment. And charging the interest is completely fine to mention in your invoice.

2. Factor the invoice

Factoring your invoices is a process in which the third party collects your due payments from customers, it’s like – The receivables financing company gives you the upfront cash, minus a reserve amount. The balance due from the client is then routed to the factoring company. Now at that particular point, the factoring company pays you the reserve amount, minus the service fee.

3. Offering Discount

Now this is something interesting and useful too. Offering discount to your customer who pays the amount early will add the value of our work and work for them is worth as they understand your work and their responsibilities towards you. And it will encourage the other people to pay faster. Usually, there is 2% discount for them who pays you within 10 days.

So say fit and healthy mentally as well as financially and don’t forget to list your business at YoureStatus.com