Improve collections to boost your cash flow
Abstract: Collections may be a nasty part of doing business but, in a down economy, it’s critical. Sure, you can file a mechanics’ lien to demand payment, but the reality is that, if the bank takes over the property, a lien means you have to get in line to get paid. A far better approach is to develop a good collection process that will keep the cash flowing in when you need it most. A sidebar explains why lien laws can be tricky to understand.