Qualitative Research Consultants Association (QRCA) - QRCA Views Magazine, Winter 2019

26 QRCA VIEWS Winter 2019 www.qrca.org All businesses, but especially small and micro, rely on fast and timely client payments to keep going. We state pay- ment terms in bold font on our invoices: due upon receipt, net ten days, net thirty days, etc., hoping that clients will adhere to them. But most never do and we’re left being the bank—incurring interest charges or late fees for pay- ments, more stringent terms from facili- ties or recruiters that have been paid late, and lost work on account of not having enough cash flow to advance for bigger projects that require large outlays of cash we should but don’t have. B usiness is booming. The phones are ringing off the hook. Referrals are flowing and you’ve just been awarded your next contract. Now you find yourself in a pickle; you have overextended yourself. All your ongoing projects called for a cash outlay. If you are like me, you’ve put off collections and following up on accounts receivables because you’ve been busy working in your business and your clients are all paying late. Past due invoices create a significant cash flow burden which impacts your ability to do business. Without cash flow, it’s only a matter of time before you and your business go kaput! n BUSINESS MATTERS n to Getting Your Money By Roben Allong n CEO n Lightbeam Communications Corp. n robena@lightbeamnyc.com Tips