Steel Advice - The Fabricator's Resource
Dedicated to support the steel fabricator with real world solutions to real world problems.
Women will never be equal to men until they can walk down the street with a bald head and a beer gut and still think they are sexy!
The early bird may get the worm, but it is the second mouse that gets the cheese.
You do not need a parachute to skydive, you only need a parachute to skydive twice.
Now That's Funny!
Accounts Payable Meet Accounts Receivable!
The article 'Accounts Payable, Meet Accounts Receivable' presented in the August issue of The Fabricator's Resource is easy for us all to talk about, but it is a hard thing for the fabricator to actually do. Fear of creating a difficult situation with the customer looms large and can prevent us from taking the necessary steps towards creating a cash positive project.
Remember that keeping the project on task financially is the move of a responsible business person. You are not a bank and it is not your job to finance the work. The fabrication you are providing is custom and cannot be used by another customer.
Usually, the fabricator's financial problems are caused by untimely payments and lack of full payments of the invoices. You showing due diligence will help the customer understand the needs of supporting the product they have purchased from you and will result in billings to their customers being proactive as well.
Try the steps as outlined in the article for one project and you may see a difference with how the cash flow moves. Nothing will be lost in the asking, but everything could be lost one day if you don't.
"Yea, kids are great! You spend the first two years teaching them to walk and talk, then the next 16 years teaching them to sit down and shut up!"
Overheard in the Lunchroom:
"Time is a great teacher, but unfortunately kills
all it's pupils."
Louis Hector Berlioz