In this episode, I’m drilling into one of the most critical aspects of running a successful business: managing cash flow.
I’ll explain why understanding the gap between Day Sales Outstanding (DSO) and Day Payables Outstanding (DPO) is crucial, and how leveraging that gap can give your business a major advantage.
You’ll also hear practical strategies for negotiating extended terms with your vendors, using credit cards to your benefit (hello, cash back!), and encouraging your customers to pay faster. These are real-world tips you can start applying today to keep your shop running smoothly and profitably. Don’t miss it!
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