Get the free Flash Player Plugin.

Archive for March 2010

How do you do it?

Mar 22nd, 2010 | By Ernie Brown | Category: Money $marts Food For Thought

When you are taking on a new customer you verify their credit and ensure that they are both credit worthy and that their payment history in the market place aligns with the terms that they negotiate?



How do you do it?

Mar 22nd, 2010 | By Ernie Brown | Category: Money $marts Food For Thought

When you ship product you verify with your customer that they have received the product, are happy with the product, and are going to pay within the terms agreed upon on the invoice … or you ship the product, assume the customer has received it and is happy with it, and assume that you will [...]



True or False: Business Owners understand what factoring is?

Mar 22nd, 2010 | By Ernie Brown | Category: Money $marts Food For Thought


True or False: Owners of companies in business less than three spend more or less time chasing their money from slow paying customers than they do planning their business?

Mar 22nd, 2010 | By Ernie Brown | Category: Money $marts Food For Thought


True or False: The cost of having an internal credit monitoring and receivables collection department exceeds the cost of factoring?

Mar 22nd, 2010 | By Ernie Brown | Category: Money $marts Food For Thought


True or False: Offering net 30 terms means that your client will pay you in 30 days?

Mar 22nd, 2010 | By Ernie Brown | Category: Money $marts Food For Thought


Which is more risky? Taking on a Fortune 500 client @ net 30 terms or factoring or taking on a privately held company doing <$10MM annually in sales?

Mar 22nd, 2010 | By Ernie Brown | Category: Money $marts Food For Thought


True or False: If a customer takes a 2% net 10 day discount then you as a business owner will most likely have that money in your bank and working for you in 16 days?

Mar 22nd, 2010 | By Ernie Brown | Category: Money $marts Food For Thought


True or False: If a customer takes a 2% net 10 day discount then you as a business owner will have that money in your bank and working for you in 10 days?

Mar 22nd, 2010 | By Ernie Brown | Category: Money $marts Food For Thought


Which process creates more liability to the owner of a business? Credit Card Processing or Factoring?

Mar 22nd, 2010 | By Ernie Brown | Category: Money $marts Food For Thought