Tom S., Boulder, CO

Dear Tom:

There’s an old saying “If you don’t have accounts receivables - why not?” I don’t know enough about your billing procedures to know if you’re doing anything wrong, but let me start by congratulating you on increased growth of your business in what was for many a very difficult year. Because you are doing more business now you are experiencing associated aches and pains of having more accounts to worry about. Let’s look at some basic structure that lays a good foundation for loss prevention.

Most plans for a new business require a lot of money. You have to buy equipment, rent space, hire employees, then play a myriad of bills that you never expected.

That is great if you have a rich uncle or friends at bank, or if you just cashed in your stock options from your job at Microsoft. But what about rest of us?

The old "charge your way to wealth with credit cards" doesn't work if you already have them maxed out. And you can't quit your job if you NEED that check to keep food on table.

The only answer is to seriously adjust your thinking. Get ready to be ultra creative. Start a business that you can get going for FREE or almost free.

1. Get an order pad, sign up as a reseller, and start knocking on doors. This works surprisingly well. Find a business that will let you sell their products with a profit built in for you to keep. Target offices, homes, and organizations who have a real NEED for what you sell.

Start by noticing something about surroundings. "I love flowers you have growing" is a great ice breaker when a home owner opens door.