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Finance: Collect Your Money
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Q: What are three key steps in setting up a good collection policy?

dollar_signA: Know your customers and their payment history. Be watchful of any changes when you receive payment. A pattern that changes needs attention right away. Don’t let payments get 60 days old. The older the receivable is on the books, the harder it is to collect. Make it a habit to have a weekly accounts receivable list. Know who owes you money and when it is due. If you see clients becoming “slow pay,” call them early and discuss how to stabilize the payment schedule. Work out an arrangement that gets payments started, even if they are making smaller more frequent payments. You need to get that cash flowing into your business. You’ve already provided the service. You’ve earned it.

Barbara Lippard, Guest Blogger
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Success: Contest for Women

Celebrate Your Success

Are you ascending to greatness? Do you know a woman entrepreneur or corporate exec. or social leader who has accomplished great things?

If yes, is offering a contest honoring the achievements of women.

About the Awards.
Nomination Form. Application Form.

Categories focus on a woman who has made it on the corporate fast track, a woman who has started a business & created success and a woman who has faced adversity and transitioned to success.

Christine Banning, SCORE
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For 50 years, SCORE has helped aspiring and current small business owners achieve their dreams. Through a network of over 11,000 volunteer business mentors in 340+ chapters across the country, SCORE connects decades of business experience and knowledge with those who can best use it. | Facebook | @SCOREmentors | More from SCORE