The Importance of Keeping Close Track of Business Costs

The most critical element of inserting an account with a assortment agency is the timing. The longer you wait, the much less most likely you are to recover monies towards the bad personal debt.

Bad Debts Are Compiled With Quick Action
Irrespective of the particular reason which the consumer has not paid, the likelihood of collection decreases over time. As we define below, with some of the common factors for non payment, your odds of assortment lower as your days gross sales outstanding (DSO) increase.

Funds Flow – When the debtor uses an excuse of cash flow complications as the reason for not having to pay monies owed to you, it may be hard to analyse the degree of their troubles. With this in mind, there are probably other creditors which are pursuing the borrower as well. As the stating goes, “the beginning chook will get the worm”. The stronger action you take, the much more probably the borrower is to respond. The involvement of a assortment company can assist to velocity up that process.

Dispute – Disputes on details can come up for a a variety of factors. The backside series is that the dispute needs to be resolved and, relying upon the extent of the dispute, hopefully the partnership can be salvaged. Dragging out the dispute resolution and negotiation process should delay your receivables. Even if you accumulate much less than the well-rounded total volume due, the faster you acquire individuals monies, the better due to the fact these folks are required to increase your money movement.

Financial Misery – Equivalent to the money flow situation talked about above, the consumer may be heading out of company or filing for bankruptcy. In either situation, you are not the solely creditor. In many instances there will not be enough money to pay all of those creditors. The lengthier you wait, the far more probably that there will be absolutely nothing remaining for you to go after.

Debtor Skipped Town – When your consumer abruptly cannot be located, you surely want act speedily. The longer you sit on an accounts like this, the a lot more time you let the borrower to “escape”. Leads which might help in locating the borrower’s whereabouts should become limited to non-existent. Take quick motion in this instance.

Placing an account with a collection company in a well timed types will increase your probabilities of bad credit card debt collections.

Cost Profit Of Not Waiting
There is a cost draw a profit connected with appearing speedily to stick an accounts with a collection company. Boost the likelihood of collection and improve your funds flow.

Though you proceed your assortment initiatives inside the Credit score Division, resources are not becoming applied for other essential activities. Time and income are forfeited. These thrown away sources are not just limited to the credit score department either. No matter if an account is in dispute or merely remains uncollected, usually occasions the Sales Department must get involved. It is taking time aside from their core responsibility, that is to sell. Now listen which revenues could be compromised and nett profits should falter.

Collecting sooner instead of later on additionally means that you have the use of individuals funds. One can improve your dosh movement position.

Though there is a price linked with putting an accounts for collections, it is offset. Business Collection Agency should commonly only cost a fee if monies are truly collected. The fee billed will in all probability be a percentage of the exact amount collected, and not a not itemized fee.

Merely stated, collecting a percentage of something is better than collecting practically nothing. Don’t wait.

Robert Williams
Williams, Cohen & Gray

A Sales Expert with excellent results in human resources and a very skilled motivating coach and excellent financial acumen. After managing a company from the ground up to its pinnacle of more than $2,000,000 in annual revenue and 7,500 customers,

I understand how business works and what it takes to succeed. The competition of today’s corporate world fits my personality perfectly. It takes determination to make the right things happen, and that determination is something I bring to every challenge, both in my personal and corporate life.

Economic Migration Damaging Family Enterprises

Kwame Mainu was running a programme at Kumasi University in Ghana aimed at helping small enterprises adopt new technologies, make new products and generally expand their businesses. He realised that the effort was obstructed by the reluctance of small entrepreneurs to delegate authority in areas such as production supervision, quality control, accounting and marketing. Surveys had shown that without delegation of these functions the enterprises would never grow bigger than about twenty-five to thirty employees. The problem was one of trust. Even though most businesses employed only members of one extended family, there were too many examples of sons and nephews stealing from their fathers and uncles to allow trust to grow easily in the community of small enterprises. In most cases the purpose of the theft was to fund an escape overseas, so the entrepreneur lost a relative and worker as well as money.

Perhaps it was the intention of most absconders to repay the loan from the riches of aburokyiri (western countries), but as Kwame had found, riches come slowly to those with no formal qualifications unless they continued to run the risks associated with a life of crime. Most of the migrants gained little advantage to compensate for the wrecked businesses they left behind at home. This was the danger small enterprise owners feared and the reason why they kept a firm grip on every part of their businesses.

Kwame understood only too well the desire of his compatriots to escape to greener pastures. He had been afflicted by the same passion for many years in his youth. He had been lucky to find interesting work and legitimate opportunities to travel overseas and he felt compelled to admit that his good fortune had resulted largely from the help he had received outside of Ghana. So why did he concern himself so much with efforts to prevent others following in his footsteps? It could only be from consideration of the damage the haemorrhage of so much talent and youthful energy was doing to the much larger community left behind.

Could he be sure that the damage caused by mass emigration outweighed the benefits? The successful absconders sent much money back home to build large houses, buy taxis and tipper trucks and finance small enterprises. Most of the financially successful emigrants, who weren’t actual criminals, were professionals who had received many years of education at the expense of the Ghanaian taxpayer. The benefits they returned to Ghana from overseas were narrowly focussed on their own families, whereas the benefits that might have accrued from their professional careers in Ghana, working as engineers, doctors, teachers, etc, would have been spread much more widely in the community.

Kwame concluded that the loss to the community resulting from economic migration did outweigh the benefits, and he was justified in doing what he could to discourage emigration, but safeguarding small enterprises from the lure of greener pastures overseas presented a formidable challenge.

Social Enterprises 101

There’s a lot of chatter these days about Social Enterprises (#socents), a relatively new way of doing business, that we believe is a ‘movement’ in the entrepreneurial world. It seems millennials (in general) are the driving force behind the trend that’s resonating with all generations and revolutionizing the way people do business. Because ‘socents’ are fairly recent, there is little research about their successes, failures, and what makes them tick.

As with all new things, people are following social enterprises to see if it is indeed a successful and revolutionary new way of doing business or if it’s just the trend of the moment.

Social Enterprises: what are they?

Social entrepreneurship, according to Harvard Business Review, “has emerged over the past several decades as a way to identify and bring about potentially transformative and societal change.”

Social Enterprise Council of Canada describes social enterprises as – “businesses owned by non-profit organizations that are directly involved in the production and/or selling of goods and services for the blended purpose of generating income and achieving social, cultural, and/or environmental aims.”

The main identifying characteristic of social enterprises is that they are businesses which have a greater purpose and in general aim to ‘do good’ while making a profit.

Social Enterprises: key challenges

The first and most significant challenge of a social enterprise is that it is not an easy way to raise revenue. Most socents take years before they break even, let alone start generating funds. Long term commitment and subsidising are essential and are hard to find. That’s why a common way of seeking funds is through crowdfunding campaigns such as IndieGogo or PinUp.

But even then, nothing is certain, and balancing a social enterprise’s social and financial priorities is extremely challenging.

The second challenge we’ve observed is the difficulty of selling a new idea. In most cases the idea has not been proven to be successful yet, and is therefore not free of risk even though it may hold great potential. It’s difficult to ‘pitch’ an idea that hasn’t yet proven results; and it’s next to impossible to deploy on the idea without the money to do so. It’s a bit of a ‘chicken before the egg’ dilemma and it can be one of the most frustrating aspects of starting a social enterprise.

As explained by Sarita Douglas of Demand Media, “A social enterprise faces the same issues that any traditional business faces in its growth and operations. But social entrepreneurs also face unique challenges in delivering the social value, social returns or social impact of the enterprise in addition to commercial value”.

Benefits: success is possible

In order to succeed, social enterprises must comply with both social goals and significant financial constraints. The initiative must be financial sustainable, otherwise the project will require a constant flow of subsidies, charity and donations that traditional non-profit organizations heavily rely on; that are, in nature, unsustainable and difficult to secure.

Many social enterprises maximize their impact through collaboration, co-operation and social innovation. They tackle traditional business problems in a different way; and scale of business doesn’t necessarily equal scale of impact.

One common practice among social entrepreneurs is to share ideas with peers. For us, building relationships and networks to maximize impact has been essential. Rather than worrying about competitors, we’ve taken on the strategy of sharing information and connecting with our peers in the effort to gain insight, industry ‘best practices’, and future contacts.

We recommend brainstorming with experts and contributors to help find solutions to common industry problems. Simply put, the more people are inspired and join your “movement”, the more likely others will take notice and in turn, make resources available.

Much work is yet to be done to discover all of the benefits of running socially responsible and economically sustainable organizations. The bottom line is this: a social enterprise is a business. It needs to be run by professionals with commercial experience who understands financial planning, scaling and growth as well as social issues.

Editor’s Note


Singh and Van Thiel, cofounders of PATHFINDER, may be best described as highly specialized consultants. They engage financial organizations and impact investors, who are committed to making a social impact via sustainable, scalable and profitable business models, and connect them to local social entrepreneurs with demonstrably compelling ideas that need financing.

Having identified their clients and partners, they provide lasting strategy and management consulting by way of relationship governance and business education among other facets of leadership and guidance.

They strive to ensure their experts in the field are fully enabled to achieve tangible results. In addition, the projects are documented and each venture is presented to local government where, with the support of local experts, they can contribute to influencing local policy. Additionally, their work is entirely transparent, documented and available for auditing, study and analysis.

How’s the Weight Loss Process Going So Far For You?

Have you recently made a commitment to start exercising and eating healthier in an effort to lose weight? Not only is that a fantastic goal to set for yourself but you’ll find that when you stick with the weight loss process for a month or two, your entire outlook on life will begin to change and start to become much more positive.

You will find yourself inspired to exercise regularly as opposed to sitting on the couch watching TV with a soda in one hand and a bag of potato chips in the other. You will also want to prepare meals at home instead of going to the local fast food drive through and get a meal that is likely over 1,500 calories. You will do this because you know that eating this size of meal will not lead to weight loss but do the actual opposite, add on more weight.

If you’ve already tried to lose weight but haven’t had much success yet, don’t get down on yourself. Most people who attempt to tackle this issue have troubles and often need to start over a number of times before they get it right.

If this is the case don’t beat yourself up if you happen to encounter issues. You should actually be complemented since you’re not giving up and are willing to give it another go. Therefore if you’re reflecting on how the weight loss process is going so far, consider how you’re addressing these two specific areas – your daily nutrition and your exercise frequency.

Let’s look at both of these topics in more depth.

1) Daily Nutrition

Since weight gain is generally caused from eating or drinking excessively and far too frequently, the most important item of business you need to address is your daily nutrition. The problem most overweight folks have to deal with is not only the type of food they eat, but more importantly the portion size they consume at each sitting.

Our body only needs a certain amount of calories in order to function properly. If we take in more than our body needs and the excess is not burned off in some manner such as in the form of exercise, then all those extra calories are packed away somewhere on the body in the form of fat.

Instead of having to deal with this problem, it’s crucial you prepare food at home and more importantly serve appropriate portion sizes at all meals. You can still gain weight eating healthy food. Just because you grilled some chicken and made rice with beans doesn’t mean you can have four servings of each. That’s still going to total too many calories for one meal.

At first, portion size will take some getting used to especially if you habitually overeat at most meals. Simply put, if you eat to the point of being “stuffed”, you ate too much food. Try to stick with a curled-up hand sized portion on your plate. Drink 2-3 glasses of water throughout your entire meal time. Start before, continue during, and especially afterwards to aide with digestion.

Another benefit to preparing all your meals at home is that you have the liberty to cook a bit extra to ensure you have leftovers. These leftovers can now become travel lunches to take with you to work the next day or eat for dinner the following night. If you don’t have a good assortment of plastic travel containers put them on your shopping list as soon as possible. You can often find good deals on these containers at the dollar store, your local Walmart, or the supermarket.

Finally, don’t get the notion that since you’re eating healthy meals you can treat yourself afterwards to an edible reward such as a piece of cake or large bowl of ice cream. These choices right here will nullify all your healthy eating efforts and can limit your weight loss progress. Instead of that junk food, if you feel like you need a “reward” eat something healthy yet still sweet. Jello and frozen yogurt are two excellent alternatives to curb the sweet tooth, much better than donuts or pieces of pie.

2) Exercise Frequency

One of the best ways to burn off the excess from our bodies is to do some type of cardiovascular exercise. However unlike the nutritional aspect of the weight loss process, the exercise component comes with its own set of dangers you need to be aware of before you start any type of physical movement.

Depending on your current shape and/or if you have any medical conditions, you should seek clearance from your doctor prior to working out. Better safe than sorry right? Remember, an injury may prevent you from continuing with your workout regiment but depending on the severity it may also keep you from working at your job which can cause a whole bunch of other issues, particularly financial ones.

Once you’re cleared for exercise, take the slow but consistent approach. Remember, there is no rush to go full steam ahead. Some folks haven’t exercised in years so if that’s the case, don’t get out there and try to run 10 miles the first time you start to workout. Instead, take it from the absolute beginning and just start walking, then slowly week by week increase the duration and speed. Everyone is different so do what you feel comfortable with.

For instance, maybe the first week you walk 3-5 times a week for 30-45 minutes. The second week a little faster and now for an hour. The third week you warm up with a 30 minute walk then go into a slow jog for 15-30 minutes. The fourth week you walk for 15 minutes then run for 45 minutes, etc.

By slowly increasing the intensity of your workouts you give the body time to get used to this new healthy change along with developing the strength you’ll need to last longer and longer. You can also incorporate different activities to not only stay inspired but you’ll workout different muscle groups. In other words, you don’t have to stick with just walking and running.

How about learning a new sport like tennis or basketball, or possibly even rollerblading? You may be surprised to find there are likely leagues or groups that meet regularly near you and would love to have a new, energetic person join their group. Check what you can find by doing a search for what you’re interested in on and

Remember, your exercise regiment should be fun and inspirational. The more fun you have when working out, the less it will feel like actual work. There’s nothing wrong with smiling while you are sweating away all those unwanted pounds during this weight loss process. Make it enjoyable and you will marvel at how your entire mindset will change over the coming months. Give in an honest chance and be amazed at the results.

Schools Complain About the Lack of Budget Monies But Then Start School at a Bad Time

Okay so, it’s that time again, back to school, and just like any year 2012 is no different, however maybe it should be? Let’s talk.

The other day, I was at Starbucks and I was talking to a mother who was busy shuttling her kids around to school. She had brought them into the air-conditioning at Starbucks for a treat, and she noted to me that she has children in two different school districts, and one private school – a private high school, prep school for super smart students on their way to Ivy League schools. Basically, mom was the official school bus for her kids, and she laughed when I told her that, and admitted it was so.

Incidentally, this time of year in our Valley it is about 106 degrees Fahrenheit. We talked a little bit about how ridiculous it was to start school this month due to the high temperatures out here during the summer. She definitely agreed. Indeed, it seems as if the schools are complaining about a lack of budget money, and the school districts around here, well they’ve been laying-off teachers at a record rate to save on funds. They’ve even been laying-off teachers which as much as 13 years seniority, so you know things are bad.

What I don’t understand is why the schools are complaining about a lack of budget money, but starting schools when they have to run their air conditioners at nearly full blast. It takes money to run air-conditioning systems, and also takes a lot of money to run the diesel school buses when oil prices are around a $100 per barrel. At a time when our Valley is worried about rolling blackouts due to the unfortunate energy policy for California, it seems as if those in charge are unable to make a change.

If those who are running the administration of our school district, those in the California Board of Education, and those in Washington do not allow the local communities to govern their own affairs with regards to education, then there is no way they could ever run efficiently. In other parts of the country it may make sense to start school earlier because they will have heating costs in the wintertime, this would allow them to take a longer Christmas break.

The mother told me that the reason they started early was so they could get all of the information to the students in time for their standardized testing. This is exactly what happens when you have centralized control without regard to regional variation. I would submit to you that not only is this a problem with our education system, and the unfortunate costs incurred, but this centralized theory of management is also affecting our government at the state and federal levels. No wonder they are in debt. Please consider all this and think on it.