NEWS

November 15, 2016

It’s not uncommon for frustrations to arise every now and then at work. Sometimes it’s regarding a technical difficulty. Other times it’s because your coworkers beat you to the free donuts in the morning. And a lot of times, it has something to do with a client. Maybe it was something they did. Or maybe it was something they said (or didn’t say).

They’ll help ease your frustration and cultivate healthier client relationships.

Listen.

When you’re experiencing a client issue, the first thing you should do is listen. Listening intently can help you better interpret your clients needs or concerns. Reassure them that you’ve clearly heard and understood them, then ask what you can do to make them happy.

Communicate Clearly.

Clear communication is fundamental to every aspect of business. If a problem arises between you and your client, solve it by being as clear and transparent as possible. If you need to, hop on the phone rather than emailing. Verbal communication tends to be more tame and professional. Plus, emails can get lost. And sometimes the tone of an email can come off as unintentionally harsh.

Be Specific.

Avoid additional communication issues by being as specific as you can. Explain your needs, and acknowledge theirs. Ask specific questions and try to extract as many details as you can. When you ask questions, you can better understand the situation.

Try Invoice Factoring.

Sometimes, you have a slow-paying client who is on a fixed payment schedule. You may not receive payment for up to three months at a time. This can be frustrating, as you need cash flow to make payroll, upgrade equipment or buy new inventory. A simple solution for this issue? Factoring. Invoice factoring gets you instant cash, so you have sufficient dough to operate your business… and help it grow too. Call TBS Capital Funding at 888-707-5188 to learn more.

If all of those tips don’t work, you could always…

Treat Yourself.

Visit a spa for some elegant relaxation. Get a hot stone massage while you’re there. Spend all day in a robe. Then, take a limo to the nicest restaurant in town. Order a lobster dinner and one (or three) glasses of the most expensive bottle of wine on the menu. Indulge.

Plan a Movie Marathon.

Write out a list of feel-good comedies. Tommy Boy. Office Space. Forrest Gump. Any Disney Pixar flick. Find a dark room, a TV and a bowl of popcorn. Kick back and go on a cinematic adventure.

Daydream that You’re Swimming in a Pool of Chocolate Pudding.

No explanation needed.

Your clients are your business. If things get difficult, smooth them out with patience and clear communication. If that doesn’t help your business thrive, install a diving board for that pool of pudding.

Search for the term “factoring” online and you’ll inevitably find an article or two suggesting that factoring is expensive. The question to ask yourself is: compared to what?    If the article tries to compare factoring fees to loan interest rates, you can tell right away that they’re comparing apples to oranges. Factoring is not a loan, it is a sale.    In sales, discounts are a time-honored tradition, with sellers shaving a little off their price to sell more, or meet a specific cash flow target. It is cu
September 07, 2015

Search for the term “factoring” online and you’ll inevitably find an article or two suggesting that factoring is expensive. The question to ask yourself is: compared to what?

 

If the article tries to compare factoring fees to loan interest rates, you can tell right away that they’re comparing apples to oranges. Factoring is not a loan, it is a sale.

 

Has this ever happened to you? Your sales team lands you a nice big order. You check inventory and realize you’re going to have to short ship and disappoint a potentially lucrative customer, or crank up the assembly line to meet your delivery deadline.    Business is good, but most of your cash is tied up in orders that have been delivered but are awaiting payment. It’s going to be at least 30 days before you see that money, and you need to get busy now.      You go see your banker, who applauds your succes
September 05, 2015

Has this ever happened to you? Your sales team lands you a nice big order. You check inventory and realize you’re going to have to short ship and disappoint a potentially lucrative customer, or crank up the assembly line to meet your delivery deadline.

 

Business is good, but most of your cash is tied up in orders that have been delivered but are awaiting payment. It’s going to be at least 30 days before you see that money, and you need to get busy now.

 

 

I didn’t get into business to chase money, but for awhile it seemed as if that was all I was doing – calling and emailing customers to check on the status of payments. I stalked the mail carrier every day, watching for the truck and racing to the mailbox only to find a whole lot of empty.    Don’t get me wrong. Business was good – I was making more than I ever had working for somebody else. And my customers always paid – eventually. But I had one customer stretch me out over three months to the tune of $21,
August 26, 2015

I didn’t get into business to chase money, but for awhile it seemed as if that was all I was doing – calling and emailing customers to check on the status of payments. I stalked the mail carrier every day, watching for the truck and racing to the mailbox only to find a whole lot of empty.

Looking for ways to get customers to pay faster?  You may have heard the expression “2/10, Net 30.” That’s biz-speak for: “Hey, if you’ll pay me in 10 days I’ll knock off two percent – or pay me the full amount in 30 days.”  A lot of big companies offer these kinds of early payment discounts. Studies show, however, that only a fraction of offered discounts are taken. Turns out even big companies like to hang on to their cash as long as possible.  At TBS Capital Funding we’ll take those terms. We’ll pay cash
August 21, 2015

Looking for ways to get customers to pay faster?

You may have heard the expression “2/10, Net 30.” That’s biz-speak for: “Hey, if you’ll pay me in 10 days I’ll knock off two percent – or pay me the full amount in 30 days.”

A lot of big companies offer these kinds of early payment discounts. Studies show, however, that only a fraction of offered discounts are taken. Turns out even big companies like to hang on to their cash as long as possible....

Is your cash flow lumpy? That sounds like a personal question, but you know what I mean. Customers like to keep their own cash flow in the black and so you wait 30, 60 or even 90 days for them to pay their bills.       Money in the mail doesn’t pay your rent. Late fees can add up quickly. Your critical suppliers want to get paid.   And even if you have the option to carry a credit card balance, not being able to pay that down can feel like a slow death. So you juggle an already busy schedule to call, email,
August 18, 2015

Is your cash flow lumpy? That sounds like a personal question, but you know what we mean. Customers like to keep their own cash flow in the black and so you wait 30, 60 or even 90 days for them to pay their bills.   

 

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