If you are a small business owner like me, increasing cash flow is practically the center of our professional lives. Although it is crucial for any business, it is especially important for small business owners because we are in business for, and depend on ourselves, as well as our loyal customers. We know that cash flow is critical to the success and survival of our businesses.
When it comes to customers and late payments, it can be like walking on a tightrope; it may be a delicate situation to conquer, and one wrong step might make the issue worse. After all, they are still your customers. However, lacking that source of valuable cash can create a major cash flow problem, which can have spiral effects to every part of your business.