How smaller companies get bigger companies to pay up

Check out this article on “How smaller companies get bigger companies to pay in a timely fashion”. It’s a good article. However, much of it is a bit wishy-washy, as in, with the examples given, the companies are largely having mixed success. But there are still some good tips. If you are having similar issues, it’s definitely worth the read.

Here’s an excerpt from the article, Negotiating with Goliath: How smaller companies get bigger companies to pay in a timely fashion ‘ “Alternately, the company might try asking for better terms from suppliers. “If we have an opportunity with a large customer, we’ll go to suppliers and say, ‘We’re not getting paid for 60 or 90 days, so can we pay you in that time?'” Donargo says. That approach often works when the manufacturer wants to do more business with a certain end customer. If neither of those alternatives is viable, though, “we’re more likely to walk away from the deal.” ‘

Click here to read the article in its entirety on CFO.com.

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About Tiffany C. Wright - The Resourceful CEO

Tiffany C. Wright is the author of “The Funding Is Out There! Access the Cash You Need to Impact Your Business” and “Solving the Capital Equation: Financing Solutions for Small Businesses.” She is the founder of The Resourceful CEO, which helps owners of small/medium-sized businesses prepare their businesses for sale. Tiffany has an MBA from the Wharton School of Business, sits on non-profit boards and serves as a business mentor with the Cherie Blair Foundation.
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