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
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Links for this video

Xometry Pay: https://www.xometry.com/xometry-pay/
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