"I cash my statement, account receivable collection, shows that the benefits of this month?" When I grew up in rural northern Georgia, one of my first works were hand-collected eggs in the henhouse. Now, for those of you unfamiliar with the process of Say It's no fun experience. Basically, you steal a chicken and an egg under, account receivable collection, the hen trying to save himself from death or cut shit. feather, it seems that the maternal instinct like other birds and do not welcome what is the nest and fly eggs.
Fortunately, technology has made the process of sending in home for 12 years for stealing eggs expired. Now, when the female lays eggs, which have miraculously disappeared from the nest by a trapdoor in the pipeline will be assembled in a safe, account receivable collection, and enjoyable. my happiness, I was just born too early in this technology! "So why is ready to unpleasant task at the tender age 12? for one reason and one reason, account receivable collection, only! farm owner CASH always paid me money, I was walking home with his father and showed him the money I had to work on the farm.
was a great experience! In the age of fourteen, I was tired of breathing, it seems hundred percent of the ammonia and the fight against chicken eggs. No matter how much money is at the end of the week was made in the egg business.The next summer, I created another company, service mowing lawns. In this company was small, I learned the true law number 15 - the cash flow is more important than profit. history looks like. I was about 10 customers. I would mow the lawn for them on a weekly basis at an agreed price.
I work during the day and for most of my clients, I want to get cash when I finished yard.For Some customers want the money back later, as they were at work during the day but not in the house to pay. For customers, I send a note with my bill, cut the grass and said he would gather all my clients money.While always gave me the date of payment depends on when I returned to resume during the week, during my summer cut account.One, I had the opportunity to go toSix Flags Over Georgia amusement park in Atlanta.
The only condition was that he had enough money to buy a ticket in cash upon arriving at the park Friday. I worked very hard this week to finish my lawn so I would have money to buy a ticket. For some, account receivable collection, reason, this week, most of my clients were not at home when mowing the lawn. I left a note by the usual, and I told them I was taking before Friday. For some reason I can not collect money on Friday. Frankly, I do not remember the circumstances of why he can not raise money.
I remember I could not go to an amusement park because they were not interested in my accounts receivable aging report as payment for the ticket. S when I learned the law No. 15 - Cash flow is more important than profit. On paper, I have the same level of benefits, as in all other weeks. I did not reduce the number of feet, pay the same amount of money and have the same charges. There is only difference, I will not have sufficient cash flow to go to an amusement park. (apparently it costs and the problem, or it could use money from the previous week.
) This is a very simple example of a trap companies fall all the time. revenues and receivables is not the same as cash. And if the Kroger down the street begins to take on a debt as payment for food, cash is more important than profit.Note drive - I understand that if my costs are always greater than the sum of money from mowing lawns, would never be done. Profit is important but not as important as cash flow, if you want to go to the park
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