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Are you stuck with great but slow paying clients? It is interesting how your biggest asset (great clients) can also be your biggest liability. But that is how business is. And as an owner you must adapt.

Whether you like it or not, slow paying customers are here to stay. As a rule of thumb, commercial clients pay their bills in 30 to 60 days. And lately, the trend has been deteriorating. So, what do you do if you have slow paying receivables.

Many owners try to go to the bank to get a business loan. Not surprisingly, few business owners get business loans. As a rule, banks will only finance companies that have long and established histories. This is not your case if your company is new or emerging from tough times.

If your biggest challenge is that you cannot afford to wait up to 60 days to get paid by your customers, then the solution is accounts receivable factoring. Most commonly known as factoring, this type of financing eliminates the usual wait to get paid. It provides you with the necessary funds to pay suppliers, meet payroll and take on new business opportunities.

And how does factoring work? Simple:

1. You finish the work and send an invoice to your client. You also send a copy to the accounts receivable factoring company.
2. The financing company advances you 70% to 90% of the invoice (a small reserve is held to handle disputes, etc.)
3. You get the funds in 24 hours
4. As soon the customer pays the invoice to the financing company, they rebate the reserve (less a small fee)

As you can see, accounts receivable factoring can easily be integrated into your business, providing you with prompt invoice payments. Usually, funds are advanced within 24 hours of submitting invoices.

Accounts receivable factoring is easy to qualify for. Accounts can be set up in as little as 4 business days. As opposed to business loans, the main requirement for factoring is to do business with strong credit worthy customers. So if you do business with good commercial clients (or the government), be sure to add factoring to your business tool chest.

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An appraisal is an official document given by an appraiser that estimates the replacement value and quality of an item. An appraiser makes a report after examination and detailed analysis of the property.

Types of Appraisals

Drive by Appraisals: This is an abbreviated appraisal that requires less data and inspection by the appraiser. The data is generally collected verbally or from records.

Professional Appraisals: Appraisals for personal property like estate tax, donation, sale of insurance, damage claims and equitable distribution.

Sustainability Appraisals: They are essential for national legislation that includes environmental, social and economic concerns.

Job Performance Appraisals: These appraisals are needed for performance rankings. They help in decision making regarding promotion, confirmation, transfer and salary fixing. These appraisals also give feedback regarding behavior of subordinates. This information helps in training, recognizing the skill of workers, their deficiencies and growth. These also play an important role in counseling subordinates. It also gives an insight into the behavior of employees.

The purposes of performance appraisals are:

· Creating and maintaining a satisfactory performance.

· Contributing to employee growth and development through training and management programs.

· Proper understanding of subordinates.

· Guidance to employees regarding jobs

· Facilitate fair compensation based on performance and interview techniques.

· Providing information regarding retrenchment.

Evaluating the work of individuals is a regular feature of companies. The appraisals made can be formally structured or an informal process. Both qualitative and quantitative aspects of job performance are evaluated during appraisals. Performance appraisal here means evaluating the amount of work and effort the individual has put in and is not evaluating the result. Performance appraisals give an insight into the employee’s weakness and strengths. Job evaluation is the amount of profit the organization is deriving by assigning the job and determines the range of pay while performance appraisal is evaluating how well the job is being done by the employee.

The content to be appraised has to be decided by a company before the program is approved. This is done on the basis of a job analysis. Appraisals help the employer to understand and improve his employee.

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Everyone would love to have and extra $500 a month. I am sure if you are reading this you too are looking for away that you can better your life even if it’s a extra $200 or $300 a month. Well I am not going to lie to you working online and making money isn’t easy.

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Chris Rohrer makes over $3,000 a month working from home. For more information on how you too can start making money from home please visit Business Programs Reviewed