May 19, 2023
This season, I am kicking off a series of bonus episodes that provide practical information for beauty entrepreneurs and those who want to chart their career courses in other aspects of the industry. In this episode, I chat with Dee Bowden, BCS Solutions founder and Cash Flow Recovery trainer. She is also the author of a book called Collect the Cash.
Dee shares a bit of her story of working in the corporate, tech, and government space and how she understood how accounts receivable could make or break a company/brand. Using relatable examples, she explains how we accept terms of service, enter into contracts, and set up payment terms. But when it comes to business, we often overlook some of these important terms. The bottom line: your sale is incomplete until the money hits your account.
When it comes to collecting cash, you not only need to understand payment terms and timelines, you need to build relationships with your vendors so that when something does go wrong, you can communicate effectively with your connections. Dee believes "the fortune is in the follow-up." But she also points out that finding a bookkeeper with the right skillset can also benefit entrepreneurs who find cash flow management challenging.
If you are an entrepreneur or contemplating running your own business, this episode is for you. Listen until the end for Dee's special bonus offers.
Follow Dee @deecollects on IG
Visit her website https://collectthecash.biz/