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When running a business, getting paid is always the most important thing. It is, after all, the reason why you got into business to begin with. If you did not want to get paid, you would have simply stayed at home. The methods for getting paid are not always the most clear-cut solutions you can think of. It gets even tougher when running a green business. The good news is you have options which will allow you to get the money which will allow you to take your business to the next level.
Understanding your clients
When looking at the options your eco-business has, it is a good idea to take a look at the clients you are working with first. Determine whether they are clients which can be trusted to pay after they receive their goods or services. Looking at past payment history and more will help you to make this determination. If they are bad risks, it is advisable to get at least a down payment on any orders. Should the client not pay, at least you will have something. If they do pay, you will have at least part of the money upfront.
Get paid before you deliver
Those short on cash will often look to loans as a way to fulfill the orders they have received. The problem is there are less financial institutions willing to make short term loans these days. Everyone wants collateral in the form of equipment or otherwise. A good option here is to invest in AR Factoring. This is where you sell all of your Accounts Receivable to a financial institution. They assume the responsibility for collecting the debt. You will only receive a percentage of the money you would have received could you have gone through production on your own, but often without the money, you will not be able to go through production. Nowhere is it found to be truer than when dealing with eco-businesses.
Partner up for your future
There are many private and public investors looking to invest in green businesses. By gaining a partner, you gain the ability to stay viable in the market. There is a natural link between the businesses who align themselves with professional investors and those companies which succeed in their future endeavors. Many of the partners you can align yourself will simply want for you to succeed to make the world a better place. They are willing to help you in getting the money and even some of the contacts you will need in order to be successful.
Deliver on your promises
No matter how good of a game you talk, if you are not able to deliver on what you say you will deliver, no one is interested. There are many big corporations creating green initiatives every day. To stay viable as an eco-business, it is important to always deliver on your promises. This way your clients will know they can count on you no matter what.
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