How to Get Paid on Time! Machine Shop Tips & Business Advice

#manufacturingbusinesstips #startacncbusiness #cashflowproblems Cash flow problems cause 85% of small businesses to fail! When customers do not pay on time, what are good and bad ways to handle past due invoices? Let's discuss common accounting terms and why having a plan in place to handle accounts receivable is crucial for small businesses. Then let's talk about strategies to collect past due invoices as and tactics to avoid. Lastly, there's a new service offered by Xometry that might be a great way to solve the problem for both parties! 00:00 Intro 00:36 Quick Accounting Term Review 01:59 Why Cash Flow and Accounts Receivable Are Important 04:15 Strategies and Tips for Collecting Past Due Invoices 12:45 Outro ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Links for this video Xometry Pay: https://www.xometry.com/xometry-pay/ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Reach us / CNC Info: Speeds & Feeds: https://provencut.com Download Fusion 360: https://www.dpbolvw.net/click-9255839... Online Fusion 360 Training: http://bit.ly/LearnFusion360 Hands-On CNC Classes: https://www.nyccnc.com/events SMW Products: https://saundersmachineworks.com/ CNC Resources: https://www.nyccnc.com 5 Reasons to Use a Fixture Plate on Your CNC Machine: https://bit.ly/3sNA4uH