Finally, the phone has rung, email has hit the inbox and the customer of your dreams inquires about that order.
You know what order we're talking about. The one that makes your eyes go wide, as you imagine how you'll finally put that new automatic press to the test.
You start thinking about how to quote that customer. Is my price to high? Is it too low? How am I going to compete with the big boys? Should I go cheap just to get the order, or should I hold my ground and play hardball, pretend like 10,000 piece runs are no sweat?
Afterall, they inquired.
You graciously talk to that customer over the phone, not trying to sound too excited, containing the excitement that you have finally hit jackpot. You are professional about your quote, as you meticulously double check each line item to make sure there are no discrepancies.
You click send and wait.
and wait.
and wait.
You are checking your inbox every other minute and finally, the moment you have been waiting for, your customer decides to go with you.
You've done it. Congratulations. You've grown your business to a point where customers trust you enough and will give you those special orders.
Quickly you work with the customer to finalize artwork and sizes. Everything looks great.
Suddenly, you get another email from their purchasing department saying that they have issued a purchase order and that the terms of the PO is a payment in 30 days after you have delivered the goods.
You stop, heart sinks, and think "oh sh*t" how am I going to float this? You are managing your cash flow so well, but a dent that large could strain your business.
You realize the customers are putting in a large order because they trust you, and the last thing you want to do is embarrass yourself by saying you don't have the cash to get the goods.
Let's talk about credit. How do you take on large customer orders while not hurting your cash flow? It is okay if you are new to the business and don't have a 100k liquid that you can float in any direction, on any given day.
It just means you have to be smarter, much smarter.
Let's go through a few things you can be fiscally responsible when handling large orders:
Read the full article:
https://www.printavo.com/blog/how-to-take-large-orders-without-going-broke
