Perhaps lack of growth is not considered failure by some business owners, but Jay Goltz has a different view. Partially based on his own personal business experience, he discusses how working harder and not realizing the benefits of growth can be the downfall of a company, “there is an uncomfortable place between big and very small, where the owner is still doing a lot of the work and still not making much of a living,” states Goltz. Read the full article “10 reason why some businesses can fail by failing to grow.”
Discover tips on how to adapt to the new delivery schedule by the U.S. Postal Service:
The U.S. Postal Service’s decision to end next-day delivery could tie up millions of dollars in working capital.
Delivery by letter carriers seems so old-fashioned that it’s been called “snail mail” for years. Yet, as it turns out, most of Corporate America’s invoices still get delivered that way. And the U.S. Postal Service’s December 5 decision to move first-class mail to a two-to-three-day standard seems sure to slow down bill collection for companies large and small.
Indeed, the move could cost a U.S. company with $10 billion in revenues up to $100 million in working capital as a result of its impact on accounts receivable, according to Veronica Heald, a practice leader at REL Consulting, a division of The Hackett Group that focuses on working capital. (CFO is developing a working capital benchmarking product in partnership with REL.)
The impact of the mail delay will be felt in at least two ways, says the consultant, who estimates that 60% of payments received in the United States are via checks in the mail. There will be lags in both the distribution of invoices and the receipt of payments, she adds. Click here to read full story.