It sounds funny right? What could scheduling have to do with how you can maximize cash flow? The answer? Everything.
Do unto others as they do unto you
Let’s say you have nothing scheduled for tomorrow and all of a sudden 2 projects come in today. You know from experience that one of these 2 clients always pays right away, and the other one frequently lands on you’re A/R report and stays a while? Which project will you take on tomorrow, and which one will you schedule later on when you have time?
Some people will say that this isn’t “right” or “fair.” Isn’t it? If I have a client who takes really good care of me by always paying right away, why shouldn’t I treat them the same way by jumping on their work right away when they need it?
The ones who don’t pay right away might actually start to “get it” and start paying you sooner. Or you can suggest to those “slow pays” that they pay you a retainer so you can get them on your calendar faster.
When you schedule to maximize your cash flow it means you give priority to the ones who give you priority. It means that you’ll spend more of your time working for the people who pay fast and the one’s who don’t will either learn to or they will go somewhere else, leaving more room on your calendar for those who pay right away.
Give priority to the ones who give you priority and watch your cash flow improve. Got questions or comments? Post them below.
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