From a utpulse.com blog 10/14/08, we are reminded cash flow is a really good idea in business. http://www.utahpulse.com/blog_entry/individual/business-tip-protect-your-cash-flow There are companies adapting to the changing economy and adopting tried and true property management methods of ensuring cash flow.
Tangible Express, in Spanish Fork, UT, not only has top of the line equipment, highly trained staff and a cutting edge business model for creating prototypes for companies, the way they get paid is unusual in industry. Well, not in the travel industry, where travelers buy a portion of property or time on that property through timeshares, which is a great idea. People have been taking advantage of that clever concept for quite some time. Several people can purchase the same room in a resort, or a portion of time good at many resorts, to enjoy a nicer vacation easier than purchasing an entire piece of property.
Taking that concept to industry and implementing it, is what Tangible Express has done. Companies can ‘purchase’ a portion of time on high tech prototype equipment for a small portion of what purchasing said equipment would run. Brilliant. Next step… using this timeshare concept for manufacturing. Ah, now think of the possibilities. Much easier to keep jobs local for total control of production, close to home. Innovative ideas are plentiful on the silicon slopes!
On-line companies are abandoning the ‘net 30 days’ billing cycle by taking a real estate property rental practice as their own company policy. By charging customers first and last month payments up-front and billing 60 days out, on-line companies ensure advertisers will pay, before ads have run. As their advertisers receive bills and pay generally in a 2 week cycle, on-line companies make sure their sold inventory is indeed sold before running ads.
I didn’t invent the saying, ‘When times get tough the tough get going.’ It is very applicable now and I wish I had thought it up. In these unsettling times, ‘same ole, same old’ could be the death of companies. On roll here, I’ll just keep peppering this blog with clever sayings! Good old Yankee ingenuity and savvy innovation will help other companies not only survive but thrive. And I’m sure they appreciate doing business with those prepared clients who make sure they, in turn, have cash flow to continue to do business in ways supporting innovation.
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Getting Healthy-Perf… on Staying Strong Until We Break?… Getting Healthy-Perf… on Saying goodbye Fred Graham on Dad