The Overhead Management Nightmare is there solution?

Now, not all financial problems are because the consumer doesn’t pay. The money side of business can be a hairy task to undertake. If you only have one or two customers, managing your finances will be easy. It’s when you start tackling hundreds of accounts that money management becomes overwhelming.

In addition to budgeting, taxes, and creating invoices, small business owners have to keep accurate records of incoming funds and their own expenses. And, with so much accounting work to do already, who wants to mess around with payment plans, credit card transactions, and other payment methods? Even if it means missing out on opportunities to make more money.

And let me throw one more pain in there. (Then I promise I’ll stop.) What happens when someone wants a refund? Does your financial system come tumbling down?

Manual Systems Don't Work! You must get a better system in place!
 

Most small business owners use QuickBooks or some
other “accounting” software to manage their finances.
Unfortunately, the majority of these programs require
small business owners to dedicate unavailable hours to
manually input and calculate transactions. Eventually,
small business are going to make mistakes.

Ironically, the more you sell, the more financial management you’re dealing with, and the less time you have. So, I’m going to scream this as loud as I can until it reaches the ears of every small business owner:

DEAD END

-Follow-up on failed payments
-Process the payment
-Customer pays invoice
-Invoices set up per timelines
-Agreed on Payment Plans

A Manual System Requires Manual Follow-up

 © 2008 By Clate Mask

keywords:-Manual Systems,system in place,Overhead Management Nightmare,Management Nightmare,Nightmare,payment method

When The Cash Isn’t Coming In what we should to do

 Consumers are in a juggling act!

Often, the small business owner compensates the lack of funds by using their own bank account to pay the additional (and completely unanticipated) expenses. When that runs out, you, like the consumer who doesn’t pay, start wondering how long it’s going to be before the companies you’ve purchased from come after you.

We’re becoming a nation
of late payers as heavy
debts force businesses to
pay some bills one month
while others are held over
to the next.
- Bonnie Thayer

Bonnie Thayer, president and CEO of the National Association for the Self Employed, said, “We’re becoming a nation of late payers as heavy debts force businesses to pay some bills one month while others are held over to the next.”

Quite simply, the major reason for business failure is bankruptcy. Or, if it doesn’t get that far, small business owners wind up with unpaid financial obligations they wonder how they’re going to repay. Without enough capital, a company cannot make their product. If they can’t make their product, they can’t sell. If they can’t sell, they’re not making any money. End of a sad story.

keywords:-businesses,Cash Isn’t Coming ,CEO of the National Association ,Consumers are in a juggling act!, Consumers,Cash,heavy debts

 © 2008 By Clate Mask

what is Collections is a Full Time Job means?

When was the last time you “loaned” somebody money? Whether it was last week or last year, have you gotten the money back yet? (If you did, pretend you didn’t so that you don’t ruin my object lesson.) So you haven’t gotten the money back? I’m not surprised. You see, it’s not human nature to part with money…even when it’s not yours to begin with.

If you’ve ever read anything by Robert Kiosawki (Rich Dad, Poor Dad), you will quickly be cured
of any urge to lend people money. And the same reason you shouldn’t lend money is the same
reason small business owners struggle with their finances...because few consumers have any sense of financial responsibility. Most people would like to have everything, NOW, without working or paying for it. They’re getting more and more in debt, and less and less able to pay their bills.

And when it’s your small business that winds up unpaid, you’re forced to track down your customers in an attempt to get your money. Or at least part of it. In the meantime, hundreds of
dollars are being bypassed, because you have to stop growing your business to collect on late payments or bad checks. You start with phone calls, then letters, then, if you still want the money, you are forced to contact a collections agency (and in doing so, drum up additional fees).

Unpaid finances can take months to collect on. Months when you are struggling to keep your head above water. Months when you have a million other things you should be managing. Small business owners can get so caught up in being paid that they aren’t making any money at all.

keywords:-businesses,Collections is   a Full Time Job, unpaid,loaned, money

 © 2008 By Clate Mask

equation to Collect the Cash

Wouldn’t it be nice if every time you sold a product or service, you instantly received the money from that sale? It would be nice if money came in and money went out in a regular, predictable pattern. But that’s not how it works. When running a business, the financial overhead alone is enough to make you throw your hands up in the air and quit. But you don’t, so that’s why our next building block is all about money.

When I say “Collect the Cash,” I’m not just referring to the sell. Like everything else in your small business, it’s a little more complicated than that. Sure, it still encompasses the ability to collect on sales. But in addition to collecting money, this building block discusses credit card processing capabilities, collections, payment plans, invoices and notifications, and other money matters.

Many marketing experts tend to skip this strategy in their books, or at their conferences.
Because everybody understands it is money that makes the business world go round. It all seems self explanatory. Right?

Well, if collecting the cash is such a simple step,
why do so many small business owners wind up losing everything they’ve got and then some?

so we will speak about cute equation:-

Credit Card Processing +Collections +Payment Plans and Invoices +Noti cations = $$$$$$$$

 © 2008 By Clate Mask

keywords:- small business,Collect the Cash,payment plans, invoices and notifications,money matters,Credit Card Processing,collections

Sell More By Selling Online

By dismissing the Internet, companies are dismissing millions of dollars of potential profit. Profit that someone else is going to snatch up if they don’t.

Billionaire Mark Cuban gave a sage piece of advice for business owners. He said, “Make your product easier to buy than your competition, or you will find your customers buying from them, not you.” He may not have been talking about the Internet directly, but this concept is true whether your business is housed in a basic storefront, done from home, or working out of a major retail store outfit.

Make your product easier to buy than your competition,or you will find your
customers buying from them, not you.
- Billionaire Mark Cuban

Internet possibilities are endless and not taking
advantage of those possibilities is…quite
frankly…foolish.

No matter what reasons a small business has for not wanting to sell online, the bottom line is: if
you “Sell Stuff Online,” you’re going to dramatically increase your profits, and collect more cash.

keywords:-businesses,Sell More By Selling Online,Internet possibilities ,Billionaire Mark Cuban, potential profit

 © 2008 By Clate Mask