How Your Business Can Find Cash & Stay Resilient in a Crisis

The recent Silicon Valley Bank crisis sent ripples through the world of small businesses, startups, and venture capital.  Thankfully, the crisis was mainly thwarted by getting bailed out and addressed by calls for regulation by the Biden administration. But it set enough investors on edge to recognize that it's not the first crisis to affect businesses, and it certainly won't be the last. 

Here's how your business can find cash and stay resilient in a crisis.

Advice for Busy Business Owners

When you own your own business, something always demands your attention. Whether it's troubleshooting office issues like internet outages, customer service challenges, or trying to get paid, entrepreneurship is a busy vocation. To grow your business, you may need to adjust your focus from putting out fires to looking at your business differently. 

Adjust your perspective with this helpful advice for busy business owners.

How to Deal with Clients Who Don't Pay

When you agree to do business with another company, the expectation is that you'll provide goods or services, and they'll pay in a timely manner. Providing the goods or services costs your company in overhead, salaries, expenses, and more. So what happens if your client doesn't pay on time or at all? Is there anything you can do to get paid or prevent late payments?

Here's how to deal with clients who don't pay.

Important Financial Statements to Keep Your Business Running Smoothly

Financial statements are as important to business leaders as they are to investors. Working capital provides a financial snapshot of your business on the balance sheet - the difference between the company's current assets and its current liabilities. A cash flow statement offers insight into the expected cash generated over a certain period of time. Both cash flow and working capital affect each other and are valuable measurements of financial health.

Let's review these important financial statements to keep your business running smoothly.

Accounts Receivable and Business Collections Trends for 2023

It's time that we review our blog posts from the past year to discover any trending topics for 2023. In previous years, we've used this annual review to learn insights on how we can do better for our readers.  Let us know if there's a topic that we can do better for you in the upcoming year.

Here are the Accounts Receivable and Business Collections Trends for 2023.

How to Recover After Losing a Client

Losing a client after establishing a relationship and putting in work efforts can be disruptive to any organization. It's especially painful if you're working as an independent contractor, freelance, or as a growing business. The loss in revenue may mean that you need to find another client immediately. There are some practical steps you can take to bounce back.

Here's how to recover after losing a client, especially when it might affect business income.

4 Signs Your B2B Collections Policy Isn't Working

The objective of an effective collections policy is to ensure that clients pay on time. The policy will also determine what happens when the client doesn't pay within the timeframe of their payment terms. When your business is struggling with cash flow or falling behind on collecting what's owed, it could be a sign that the policy needs updating. 

Here are signs that your B2B collections policy isn't working. 

Don't Let Past Due Invoices Ruin Your Holidays!

The holidays are a special time when your business breathes out a sigh as one year ends and another begins... Right?

Before that happens, there is much to do! The end of the year signals the looming beginning of tax preparation and budget decisions. It also means closing out the books for the year and discovering delinquent receivables. 

Don't let past-due invoices ruin your holidays! Use these best practices to bring in more cash before the year is over.

B2B Sales & Marketing Tips to End the Year Strong

While we typically write about the end-of-the-year processes for accounts receivable, year-end brings about its own stress for the sales and marketing teams. With quotas to meet and budgets to assess, the challenges can weigh on even the most seasoned professional. 

Here are four tips for B2B sales and marketing professionals to end the year strong.

Tips for the Prevention of Accounts Receivable Delinquency

If we think of cash flow as important as oxygen to the human body, then accounts receivable is as important as the lungs. When extending credit to clients or invoicing them for goods and services, we're expecting pure, clean cash to flow back into our business. If invoices remain unpaid or the client's credit is unreliable, then the cash flow becomes clogged, effectively killing the business. 

Use these tips for the prevention of accounts receivable delinquency.