Managing collections and getting paid with Stephen King. Manage your SME.

The cheque is in the mail…

Today I’m joined by Stephen King from https://www.growthforce.com/

Stephen has a varied background in business and accounting and works with SMEs on providing services and information to help them run a better business.

Today we discuss getting PAID!

Your business does the work, but when do you get paid and how do you manage this when crazy things like global pandemics pop up.

Surprisingly, he doesn’t suggest hiring Pennywise the clown to make your collection calls!

Receivables are an investment your business makes into the business of your customer.

How do you know when it’s ok to extend credit and how do you manage being told that the ‘Cheque is in the mail?’

Get a cup of coffee and join Stephen King and I for this interesting conversation about collections: https://youtu.be/u-eBNJD7iO0

Learn how to buy an already-successful and profitable business even in the covid-recession of 2020: https://www.BusinessBuyerAdvantage.com   **Now with a new section on buying distressed businesses.

Book a call with me at https://www.clarity.fm/davidbarnett  

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[AUDIO] When you need to say 'no' to a sale because you're broke. The end result of not having enough operating capital.

I tell the unfortunate story of a business that will have to start turning down work until they can collect some receivables. Growth requires planning.  What most people fail to realize is that growth costs money and you need to have a plan for where this money will come from.

Related post: Growing a Business to Death



The Invest Local Book blog is all about small business, franchises, local investing, home economics, small business systems and borrowing money for your business. It's full of great content and I look forward to seeing your feedback.  Follow me on FaceBook at www.FaceBook.com/DBarnettMoncton.

[VIDEO] Set Customer Expectations about payment to collect faster. House and consultation updates.

A quick update about how to do a consultation call with me on the phone or skype.

I also give a quick update on the house.

Recently, the same topic has come up again and again, how to collect faster in companies where your customers usually get time to pay you.  I discuss the problem and give several solutions that can help to increase the speed of pay.



The Invest Local Book blog is all about small business, franchises, local investing, home economics, small business systems and borrowing money for your business. It's full of great content and I look forward to seeing your feedback.  Follow me on FaceBook at www.FaceBook.com/DBarnettMoncton.

[VIDEO] Receivables Factoring, why would you do it and how does it work?

I teach you how receivables financing works and how it can be an option to finance a company with rapid sales growth that needs to give trade credit to customers.



The Invest Local Book blog is all about small business, local investing, home economics, small business systems and borrowing money for your business. It's full of great content and I look forward to seeing your feedback.

[AUDIO] Loan updates and financing the painter's receivable

I give an update on the loans I did over the last few months as well as discuss financing the receivable of a painting contractor.



InvestLocalBook.com is the blogsite for Invest Local, a book about local investing deals such as loans, leases, inventory financing, receivables financing and more to small businesses and people.

Growing a business to DEATH!

I had a coaching call with a young lady from The South who was having trouble in her business and thought she needed a loan.

By asking the right questions, I was able to uncover that the real problem was her payables.

Take a look and let me know what you think.

-dave