Published On: Thu, Jul 19th, 2018

Receivables are as Important as Cash!

Receivables are as Important as Cash!

As an owner of a company, it is imperative that you stay close to the accounts receivables.  Receivables are one step away from being cash and cash is always important.

If you don’t pay close attention to receivables, then your asset will quickly become an expense. Collectability of the receivables, once they fall into the “over 90 days delinquent column,” becomes very slim and turns into a write-off.

Whenever I started with a turnaround client, I always called the top 10 customers (by annual sales or amount of receivables) and scheduled a visit. On each visit, I introduced myself to the owners, thanked them for their business and asked in a very polite way that they start paying their receivables according to the terms of the invoices. This visit always proved to be very successful. Every two months, I would visit ten more customers. Within a short period, the company’s receivables were in great shape.

A word of advice…when it comes to business, IT ALWAYS STARTS AT THE TOP!!!

Robert “Bob” Curry has turned around more than 70 businesses, both large corporations, and small businesses. He comes to your place of business or the site of your choice. The first consultation, of course, is at no charge. Bob Curry has a stellar track record of professional success and excellent formal education, including Masters Degrees in Taxation.

Please read some of my other articles on improving your hiring skills: Invest Time and Money to Reduce Hiring Mistakes! and Listen More During an Interview, and Talk Less!

Best Hiring Practices

Bob published his first book “From Red to Black – A Business Turnaround – The Matter of ABC Shutters” that is on sale at Amazon.com.

Please read all my blogs at Fortlauderdaleceo.com.

See the website Redtoblackbooks.com.

If you would like to comment on this article, my email address is Bob@ceorsc.com.

About the Author

- Robert S. Curry is an author, seasoned business coach, and successful turnaround specialist. Earlier in his career, he served as President and CEO of three different companies, the largest with annual sales of more than $1 billion dollars - all which experienced successful turnarounds under his management. In the late 1990s, he started his turnaround consulting firm, and for the past twenty years, he has turned around more than seventy distressed companies in many different industries helping each to establish a strong management team and become profitable. He published his first book: From Red to Black – A Business Turnaround – The Matter of ABC Shutters. He resides in Fort Lauderdale, Florida, with his wife, Esther.

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