How to Manage Difficult Conversations with Clients

When online retailer Amazon recently purchased the grocer Whole Foods, CEO John Mackey compared their relationship to dating and falling in love. Destiny reigns when one business has what the other business needs and the sales process feels "meant to be".  Inside of a business relationship, however, there are situations and discussions that could be challenging but must be addressed. 

Instead of avoiding tough conversations with your business customers, follow these rules.

Debt Collection Technology Can't Compete with Human Touch

How often do you call a business and find yourself stuck after "press 1" for this and "press 8" for that? Technology can be a wonderful resource but are businesses ready to rely on fully digital systems? A recent USA Today article highlighted new technology and stated that some debt collections could be handled without human interaction. When your business relationships are at stake, we beg to differ.

At Enterprise Recovery, we believe relationships are too important to take humans out of debt collections.

Freelancers: How to Set Prices and Invoice Like a Boss

Deciding to hang out a shingle is a nerve-wracking leap into the unknown. You obviously need enough salary to sustain your lifestyle but you also face the delicate challenge of not scaring away potential clients. Trying to decide what to charge for your services and how to invoice new clients doesn't have to take too much brain power. 

Here are a few tips to set rates for your freelance business and invoice your clients.

When Should Accounting write-off B2B Accounts Receivables?

Sometimes your business accounting department has to make the choice between chasing down a client to pay an invoice or simply writing the whole thing off. Making the choice to write off receivables can be tricky. Not only can you not predict the future behavior of your client, you also must be aware of accounting methods, best practices and reasons for writing off receivables.  

When it comes to deciding to write off B2B accounts receivables, here are some things to consider.

Accounting Tips for Digital Marketing and Ad Agencies

Agency life is never boring. Built on the back of creativity, digital marketers and advertising gurus spend hours pouring over strategies, pitches, and messaging for clients. When a campaign takes off and clients see return on their investment, everybody celebrates the win. Creative agencies still require someone to operate the back office, maybe not-so-fun, part of the business. 

Here are B2B accounting tips for Digital Marketing and Ad Agencies to stay successful beyond campaign wins.

How to Increase B2B Customer Retention

Statistics show that it costs five times more to attract a new customer than to keep one. Growing businesses, however, typically devote more time, money and effort to customer acquisition than retention. Even with cost of marketing, digital and traditional, and sales, new clients are still not buying as quickly or as easily as current clients. 

With that in mind, let's discover some tips for keeping current clients happy and loyal.

How to take 'Freelance Isn't Free' Nationwide

Freelancers find they are often overlooked when it comes to getting paid on time. Unfortunately, there is little to no legal recourse to prevent this from happening.  One city made some changes to help ensure their freelancers, about one third of the overall workforce, would get paid or at least have something they can do about it. As New York City is the first to pass a "Freelance isn't free" law, more communities are taking note.

Here's how to help take "Freelance isn't free" nationwide.

Collaborating with your Accountant on QuickBooks Online

Unless your business is accounting, letting the pros handle what they're good at means you can focus on growing your company. Sharing your business information with an accountant can be a challenge, especially if your accounting software requires exporting or downloading large files. QuickBooks has recently rolled out a new set of features that allows for easier access and communication with an accountant. 

Here's how the My Accountant feature works in QuickBooks Online.

Why is Accounts Receivable is Important for Venture Capital Funding?

As an entrepreneur considering big growth in your company, you also have to anticipate what looks attractive to potential investors.  Obviously, venture capitalists are going to look for a whole host of "must haves" in a burgeoning business, including a business plan and proof of profitability. Part of that proof is securing the financial history of the business so far and the financial projections. 

What are venture capitalists looking for in your accounts receivable?

The Difference between Angel Investors and VCs

When entrepreneurs are ready to take their business to the next level, they may begin searching for other resources to help finance the leap. The search for funding has to begin within the organization. Is there a solid plan for growth of the business? Has the brand been successful with attracting customers? Are the financials in order? Once these very important questions are answered, a business owner needs a clear understanding of the types of investors that are available and ready to fund the venture.  

What is the difference between angel investors and venture capitalists?