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- It's not too late to stop the rot
There's no doubt that the industry has had a terrible time over the past 18 months.
To be successful you have to be able to sell in three areas: small-margin, normal-margin and high-margin. With small margins, you have to have 'safe' clients who pay on time or at point of delivery On time means 30 days and it must not make up more than 30% of the business.
The normal-margin zone is where you should get maybe 55% of your business. Again, the money should be 'safe' but expect some of these clients to take longer to pay.
Then there's the high-margin stuff. These are 'specials' and tend to be few and far between. …