While we can all bemoan the struggle we’ve faced coming out of COVID, one positive result has been this industry’s renewed focus on money. The shops that had unwieldy accounts receivable problems did not make it. The ones that scaled up during this time were the ones that had a better understanding of cash flow and a solid financial foundation.

Typically, one thing made the difference.

Get 100% of the money for an order upfront. Not 50/50. Not Net30 or even Net10. COVID taught this industry that being financially strong matters.

If you read this and learn only one thing, this is the policy to adopt. Get paid upfront for the work you do. The more we move to this as an industry standard, the easier it will be for everyone else.

You can’t buy a plane ticket with a PO or have your credit card charged when you land. Huge players like Amazon and Custom Ink charge upfront. You are not a bank, so stop lending money.