2013 is not long gone but might be long forgotten. Running out of cash or creating cash flow issues is a mistake most business owners will make.
John Corias, from Dynamic Business writes that “…the most critical aspect of growing a small business is cash flow.
It’s an old cliché but cash really is king, the greatest business idea in the world isn’t really worth anything until it results in cash in the bank. For some businesses getting to this stage can take longer than others, but it’s a destination you need to reach as soon as practicably possible.
Learning to manage the cyclical flow of cash in, through and out of a business, can be a real art. Most often, businesses that fail do so due to poor cash flow. Once it gets out of hand, the downward spiral can be difficult to reverse which is why keeping on top of your cash flow from the beginning is a key factor to success.
This aspect has been the subject of entire business books but the key pointers revolve around managing your customer’s expectations. Clear and well-known payment terms presented up front will generally result in earlier payment of your invoices. Knowing your customers well and using payment services that will suit them and make it easier for them to pay you can often be rewarding.”
What John forgot to say is that Ezypay’s direct debit payment system helps businesses manage cash flow. Cash flow can be greatly smoothed by setting up all your customers onto a regular payment cycle. I would go one step further than this article and say when you use Ezypay direct debit payment system you do not have to wait for an invoice to be paid. You debit your customer and that’s that.
Cash flow is still King in business so let Ezypay make collecting payments easy and simple. Don’t repeat the same cash flow mistakes you made last year. Email Ezypay today at email@example.com to find out how to set up an Ezypay account today and start collecting payments from clients now.