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I’m no big fan of being late on bills; however, remember that you are in business to keep your life better, not living of your vendors. They play a crucial role but you need to look out for the fitness of your company first. After all, if your company isn’t healthy, there is the good chance that due to have dollars to pay a source. It’s in their best interest to work with you when you’re ready help. Perform your best not to ever abuse it. And, don’t be worried to contact before the bill is simply because tell them that you will be a little late. Usually all need is an appointment so they may not be worrying with their end a person haven’t paid your payment Cash.
From here on is going on monitoring your cash position. You must know exactly what your cash holding is every working day. The first task is to call your bank or check out your account online to take a look your bank balance.
Cash Flow Tip No 9 – When things get tight, triage your repayments. Call all your suppliers and negotiate long periods or deferred payments. Do not pay the biggest debt first, pay the most significant.
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