When I get a bill, I pay it the next day. When my company gets one, I instruct my accounting department to pay it right away. I couldn’t do this in the beginning, but I do now. Why?
1) Suppliers treat you better when they know you pay in a few days.
2) You can take advantage of any discounts offered for early payment.
3) You don’t make any more money by paying later. You are going to have to pay it anyway.
4) It’s good for your credit rating.
5) It’s not fair for the owner of a business to take ANY money, if he doesn’t pay his suppliers as agreed.
6) When a slow time comes, you are much better positioned to weather the drought.
7) If you are heading for trouble, you know it early and can make adjustments.
8) You don’t have to duck phone calls or anyone in the supermarket.
9) It feels good.
If someone needs a loan then they should go to the bank
Your suppliers did not agree to be your bank don’t treat them like one
……..I might be a little passionate on this issue:)
#8 is funny. #9 is true. TGIF. Have a nice weekend.
AMEN! 🙂
It feels really good and it makes others feel good to do business with you.
AMEN!
And Tony, I agree. I didn’t go into business to be someone elses bank.