Author Nick: MargotBrandlin
Name: Margot Brandlin
Site:
When you’re just starting out, you’re not necessarily thinking about what your employees are going to bring to your business long-term. You simply want survival at first, and sometimes that means that you’ll hire anyone who can do the job and is willing to work at what you can afford to pay.
As with most businesses, you probably sell on credit and ask your customer to pay an invoice within a set period of time, such as 30 to 60 days. During this time, you are basically loaning money to a customer, and expecting that the customer will pay you back. If the invoice is paid, you have cash to run your business. If it’s not, you don’t. Therefore, to be successful at all, you have to be paid on time.