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February 2015: Editorial advisory board

February 17, 2015 -  By

What’s one easy way a company can improve cash flow?

Advisory Board

Landscape Professionals

Richard Bare

Arbor-Nomics Turf, Norcross, Ga.

“Research every nook and cranny of the business (or hire a professional business analyst/consultant to do it). For instance, how much are you paying to take credit cards? Maybe what you’re paying makes it cost prohibitive to take the leading card. (For instance, we decided to stop taking American Express). Or maybe you’re discounting your services too much.”

Chris Joyce

Joyce Landscaping, Cape Cod, Mass.

“Properly run your business so it’s bankable and align yourself with a good banking relationship.”

Adam Linnemann

Linnemann Lawn Care & Landscaping, Waterloo, Ill.

“Add full maintenance contracts that pay a monthly fee, instead of ‘as they go.’”

Jerry McKay

McKay Landscape Lighting, Omaha, Neb.

“Bill immediately after the work is done, stay on top of accounts receivable and don’t let things get more than 90 days old.”

Greg Winchel

Winchel Irrigation, Grandville, Mich.

“Accept online payments and set up reoccurring payments so you get paid automatically.”

Industry Consultants

Kevin Kehoe

3PG Consulting, Laguna, Calif.

“Invoice immediately after work is complete.”

Phil Harwood

Pro-Motion Consulting, Farmington, Mich.

“Invoice more quickly by implementing policy and process changes. The faster invoices are sent, the faster they are paid.”

Frank Ross

3PG Consulting, Alpharetta, Ga.

“Back up your standard invoicing date by 30 days.”

Jeffrey Scott

Jeffrey Scott Inc!, Trumbull, Conn.

“Shift your maintenance accounts so they are due on the first of the month in question; then rewrite your contacts so you’re never upside down. Always be collecting more than you are spending in any given month.”

Jody Shilan

FromDesign2Build.com, Upper Saddle River, N.J.

“Pick up the final payment as soon as a project is completed. Not net 10, 15 or 30.”

Bruce Wilson

Wilson-Oyler Group, Scottsdale, Ariz.

“Bill maintenance services a month in advance.”

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