Cashflow 101, Part 4: Factoring VS. a Loan
Factoring isn’t a loan, and the difference shows up on your books in a way most business owners never see.
Congratulations to Hayden
Hayden Wawzonek has graduated from the University of Calgary with a Bachelor of Arts in Economics, after several years in our accounting department.
Michelle aced it
A hole-in-one on the 11th at Shaganappi Point. Congratulations to Michelle Simon, who brings the same focus to every Capital Now client.
What is FINTRAC and why does my factoring company ask for all this information?
Photo ID, a utility bill, your shareholders — why does a factoring company need all this? Here's what FINTRAC is and why it applies to every Capital Now client.
The Invoicing Trap
You did the work. You sent the invoice. Now you're waiting. And waiting. Most business owners don't realize they've walked into what we call the invoicing trap. There's no law forcing your customer to pay on time, and chasing them down hurts the relationship. Here's how to break out of it.
Cashflow 101, Part 3: You're Undercharging and You Don't Even Know It
Your barrel costs $150 to make, so you’re making $150 a barrel, right? Not once you count the software subscriptions, bank fees, insurance and all the other costs that slip your mind. Here’s why your competitor’s price is no guide to what you should charge.
Cashflow 101, Part 2: The Importance of Pricing
A 5% price change doesn’t sound like much. But in our barrel business, raising prices by 5% added $61,425 to the year, and lowering them by 5% shrank it from $614,400 to under $200,000. Here’s why you should never, ever lower your prices.
Cashflow 101, Part 1: The Importance of Payment Terms
Most of us copied our payment terms from someone else’s invoice and never thought about them again. Here’s why that one small choice can be the difference between turning $150 into $9,600 or into $614,400.
How can I have no money when I am making so much money?
We had a client that was busy selling services to other businesses. Still, in spite of having lots of orders, he was chronically short of cash.
He was so far behind on his bills that they called us, thinking we were the last resort as it was just a matter of time before they went out of business.
Digital Re-engagement Message
Remember Mark Twain's famous quote, "The reports of my death are greatly exaggerated?" Well, it seems fitting for us at Capital Now Group of Companies. We might've been quieter than usual, but we definitely weren't out for the count.