master of science graduate in reading from the City University of New York, Brooklyn College, Samantha Levine is an entrepreneur in New York. One of the areas that Samantha Levine enjoys is reading up on and following the latest news and issues affecting entrepreneurs and small businesses in New York, on issues such as angel investors, start-ups, and cash flow management.
Due to the limited resources, small clientele base, and limited finance, entrepreneur-led businesses require smooth cash flow. Cash flow management thus becomes an essential skill. However, the only effective way to ensure a smooth cash flow is to first identify the cash flow issues.
The most common issue for entrepreneurs is delayed invoicing. During this time, the business opener is expected to cater to recurrent costs such as paying for supply, contractors, salaries, and other bills. If the bills are not met, the risk of a business running to the ground is high.
To sort delayed invoicing and budget and accommodate any risk beforehand, set up a downpayment account to keep the business independent of the client paying. The downpayment for a particular product or service should also ensure a profit for the entrepreneur. This provides padding to cover all bills and expenses if invoices are delayed.
Also, consider faster invoice payment strategies. Rather than adopt the regular 30-day period, entrepreneurs can try a shorter but reasonable invoicing period. This gives the entrepreneur more time to address invoice fulfillment issues before adversely affecting the business. The digital age also allows for immediate invoicing and payment through paperless tools. The entrepreneur should look into the available tools and software and integrate the same for different devices.
Samantha Levine (New York City) 
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