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Coach

Selling Smarter

By Rosalie Marcus

About Rosalie

Speaker, author and sales coach Rosalie Marcus, The Promo Biz Coach provides proven tools, tips and strategies for selling smarter, working less and making more!
 

Compliance Chat

Jeff Jacobs
Promotional Products: If It Ain’t Broke, Leave It Be
Apr 18, 2014

I wrote recently in this space about swag that went wrong for Goldman Sachs at a conference for women in...



Jeff's Rant

Jeff Solomon, MAS
A "Condemned" Supplier Shares the Truth!
Apr 17, 2014

There clearly are companies who operate in ways that are contrary to the traditional supplier/distributor model we are comfortable with....



Promotional Fashionista

Colleen McKenna
3 Ways to Style an Imprinted Tee
Apr 15, 2014

Imprinted T-shirts are in with the fashion elite. Here's how they are styling the tees....



Beyond Words

Rebecca Kollmann, MAS+
Adapting Your Style
Apr 14, 2014

Many of us have taken a behavioral style inventory at some point in our careers. While the intent of these...



Guest Blogs

Guest Contributor
The Anatomy of Emotional Marketing
Apr 11, 2014

You've probably heard the old adage: "It's the thought that counts." This could not be any truer, especially in business. When...



Kiwi's Coaching Corner

Paul  Kiewiet
Without People, Brands Have No Meaning
Apr 10, 2014

Brands are built over time but can be destroyed in an instant. This is why is it critically important to...



The Hot Button

Mary Ellen Sokalski, MAS
Even Retirees Are Doing It
Apr 9, 2014

Even older clients who grew up with the "one-size-fits-all" adult T-shirt as their world are choosing to buy FASHION TEES....



Not So Technically Speaking

Dale Denham
Go Mobile or Go Home
Apr 8, 2014

I am, without a doubt, the most mobile CIO in the USA. Name one other CIO that is so committed...



Million Dollar Mindset with Greg Muzzillo

Greg Muzzillo
"Free Crab Tomorrow"
Apr 7, 2014

Joe's Crab Shack offers free crab tomorrow. That's because it's never tomorrow. All we have is today. I've talked to...



Quick Thoughts by Cliff Quicksell, MAS

Cliff Quicksell, MAS
6 Reasons Why Marketing Fails and How to Prevent It
Mar 31, 2014

When it comes to marketing, there are no guarantees. A great marketing idea that is poorly implemented or incorrectly presented...



Be Dazzled

Elise Hacking Carr
Go Green or Go Home
Mar 26, 2014

Earth Day is right around the corner. Need ideas for upcoming promotions? Here are three products that scream "I <3...



Be Bold, Be Different, Be Memorable

Rick Greene, MAS
5 Ways to Use LinkedIn to Land New Business
Feb 26, 2014

LinkedIn is a happening place. It is the unsung hero of social platforms and it can indeed be used to...



Mike's Blog

Michael Cornnell
Ads on NBA Jerseys: An Inevitability?
Feb 24, 2014

The NBA may be stating that they're no closer to on-uniform ads than they were in 2011, but that doesn't...



Embellished

Kyle Richardson
New Year, New Site, New Magazine
Jan 31, 2014

This week, we announced the redesign of our home page and magazine. Let us know what you think about the...



Big Picture Promo

Matt Kaspari, CAS
Meeting Clients Where They Are
Oct 24, 2013

Promotional marketing is at its best when it empowers a client’s brand, meets his or her objectives and fits within...



My Two Cents

Rick Brenner
For Promotional Product Sales, Protect Your Client's Brand
Jun 3, 2013

Whether you are selling to a global brand like Nike or to your local YMCA, no single asset is more...



Friday Sales-thought of the Week!

Dale Limes, MAS
Reverse Engineer Your Sales Success
Mar 18, 2013

Steven Covey reminds us that when setting goals ... "Start with the end in mind." That is to visualize the...



Editor's Notes

Nichole Stella
The Perfect Match
Mar 5, 2013

The Super Bowl has also become the Ad Bowl, where brands duke it out to see who has the funniest,...



The Sales Challenge

Bill Farquharson
Think and Succeed
May 29, 2012

What would happen if you woke up in the morning and your first thought was, "I am never going to...



Creating More Purposeful Sales Conversations

Lisa Leitch, CSP, MAS
Under 100 Days to Achieve 2011 Goals
Oct 20, 2011

It's hard to believe, but there are fewer than 100 days left to achieve 2011 goals! Are you on track...



How to Keep the Cash Flowing in Your Promotional Products Business

 

In these uncertain economic times cash flow is more important than ever. Whether you're a self-employed promotional products sales professional or working for a larger promotional products distributorship, you'll want to be aware of key drivers of cash flow. Good cash flow directly impacts your income.

Today's blog post will give you 9 proven strategies to get paid faster:

  1. Be aware. Good cash flow starts with awareness. Be pro-active. Know your cash position at all times. Print weekly and monthly profit and loss statements. Know your bank balance, what you owe and what is owed to you. Once you know where your company stands, take steps to speed up cash flow by the following the tips below.
  2. Clearly communicate credit terms. Let all new accounts know your terms of sale before you process their orders. Check with their accounts payable department to find out what their normal turn-around time is for paying invoices.
  3. Get a deposit. These days getting a deposit (that covers your cost of goods) on all orders makes sense. Many clients will readily give you a deposit if you just take the time to ask. Make it a habit to ask all new accounts for a deposit when the order is placed.
  4. Make it easy to pay. Accept all major credit cards and PayPal. When clients have the option of using their credit card, especially those cards that have a rewards program connected with them, you'll have an easier time collecting. Make all your clients aware that you have many payment options.
  5. Give a small discount for early payment. Many of our suppliers do this. Offering a one percent discount for paying within 10 days may speed up payment.
  6. Check credit references. Do this for all new accounts and periodically check on existing accounts. A little investigative work goes a long way in knowing who you should be extending credit.
  7. Stay on top of past-due accounts. Regularly send statements. Your clients are busy, and your invoice may have "fallen through the cracks." A friendly reminder may get the check in the mail. Follow up at least weekly on past due accounts.
  8. Make friends with the people in accounts payable. A small promotional gift, a friendly phone call and a polite manner can go a long way in speeding up your payment.
  9. Reward them. Send a letter thanking all your accounts that pay within a certain time frame. Let your accounts know they can use you as a credit reference. Consider occasionally offering a free setup or next-quantity pricing as a thank-you for early payment.

I would like to hear from you. What have you tried to speed up cash flow? Have you used any of these strategies? What has worked in your promotional products business? Please comment below.

Looking for more ideas to quickly and easily increase your promotional products business? Get a free Skyrocket Your Spring Sales audio download with non-stop ideas to increase your promotional sales, plus supplier discounts and my new special report "10 Big Mistakes Promotional Professionals Make and How to Avoid Them and Double Your Sales," at www.promobizcoach.com. Contact Rosalie at Rosalie@promobizcoach.com.

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