"If A equals success, then the formula is: A = X + Y + Z, X is work. Y is play. Z is keep your mouth shut."Albert Einstein
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How To Prioritize And Grow Your Home-Based Business
How To Prioritize And Grow Your Home-Based Business" By Ken Leonard, Jr. ©2002 KLJ Online Life is all about making choices, and setting priorities. You have made a choice to get away from the "work at a job" world, to pursue making a living at home ...
Start Your Own Home Based Business
So many today want to start their own business and fortunately businesses are constantly looking for our assistance. One home based business I recommend is starting a word processing or virtual assisting business. It can make a great work-at-home career ...
What Makes Up The Best Online Home Based Business
What does it take to be called the best online home based business? You can break this down into 2 areas. First off all this has to be a business that you operate on the internet. Secondly home based means just that. You will operate this business out ...
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Whether or not you will be extending credit to your customers in your home based business is a decision you will eventually have to make. Every business owner will have to write off between 3 and 5 percent of debt as bad, as long as debt is managed correctly. If you have just started your home based business, cashflow is very important, and so you do not want to necessarily turn potential business away just because you think if you go extending credit you will not get paid. There are ways to help you determine whether or not you should extend credit in your home based business.
Some home based business owners have a strict policy regarding up front payment or even pay upon delivery payments. However, if you want to keep your business competitive, extending credit is one way of increasing business. Extending credit, though, does not mean you do it willy-nilly to anybody who wants it. After all, some services or products are worth a lot of money, and not getting paid can cost your business significantly.
Therefore, you need to take some specific things into account when you are considering extending credit to a client. First, take a look at the character of your client and their overall willingness to pay debts. What is their history and your experience with their management? Is there a history of unpaid debt or litigation? Taking a close look at the client can help you determine whether extending credit is in your business's best interest.
While you are taking a closer look at the character of the company when determining whether or not you will be extending credit to that client, you should also take a close look at the financial capacity of the company. The company's character tells you if the company will be willing to pay, but looking at the financial capacity will tell you if they are able to pay any debt.
When you are considering extending credit to a particular client, finding out the character and financial capacity of the client comes easiest from having them fill out a credit application and running a credit check. Beware of extending credit to those clients that balk at filling out a credit application, as most reputable clients will understand your concern. Also, double check credit references on the application before you go extending credit to your client.
Your policy on extending credit is important here, as you need to know what to do with the information you get from the credit check. You need to know how much negative information makes you uncomfortable enough to not extend credit to that client, and if you will be requiring pre-payment in full or just partial payment. Also, if you do decide on extending credit to the client, then you need to make sure the payment terms are very clear.
Read the rest of the article here: Extending Credit in Your Home Based Business.
Download the Free Quick Start Workbook (Free $97 Value!) and receive valuable tips, strategies and techniques designed to grow a very successful Home Based Business.
Copyright © Charles Fuchs is an established Six Figure Income earner and one of the top online marketer's. He specializes in helping people start their very own Work at Home and Home Based Business on the internet.
I grant permission to publish this article, electronically or in print, as long as the bylines are included, with a live link, and the article is not changed in any way.
About the Author
Copyright © Charles Fuchs is an established Six Figure Income earner and one of the top online marketer's. He specializes in helping people start their very own Work at Home and Home Based Business on the internet.
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Crime: Protecting Your Home, Business And CommunityPatch.comToday, Lt. D. Brent Schierbaum, the evening watch commander of the Atlanta Police Department's Community Liaison Unit, explains what we can do to make our homes and business less vulnerable to crime. He also explains why we need to strengthen ties with ...and more » |
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Sammamish City Council adopts new business regulationsSammamish Review“The presumption needs to be in favor of residents and neighborhoods rather than in favor of people that want to have a business that is apt to be intrusive,” Whitten said. According to US Census figures, there are about 1639 home businesses in the ... |
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