What Every Small Biz Should Know About Net 30 Terms

Do you give terms?

This is a sentence you’ve heard or will hear if you are in the wholesale business. But, what does it actually mean? The phrase gets casually thrown around as if everyone has a clear understanding of what it means.

First, let’s chat about  Net 30 (Trade Credit) in general terms. It means you take an order and get paid in full in a set amount of (30) days.

If you run your Small Biz on an all “cash-basis” extending credit can be daunting. You certainly don’t have to do it either. It’s common practice to run a credit card when the order is shipped. You get instant satisfaction and semi-instant payment from your CC (Credit Card) processor.

Why should you ever extend credit? Well, there are larger retailers that “only” do business on Net 30 terms. Providing trade credit to the select clients can be a way to position your company  for growth. If you want to grow, it can be tough to stay on a “cash-basis.” Not impossible, just tougher. (more…)

How To Bake A Yummy Social Media Souffle

I talk a lot about the need for the right “mix” when you promote your product, business, book, whatever it is – engaging in social media is no different. To get a good result you have to find the recipe that’s 100% ALL YOURS. But just like the hard-to-bake souffle, there are some ingredients I’ve seen in of the work of ALL successful social media contributors.   Here are the components I believe you should always use for your  social media recipe…and some of experts who cook it up just right. Feel free to add your favorite folks – let’s get a good list going! (more…)