Question: Sale Closing

[Seth G.]

I'll be hitting the phones starting next week and I wanted to know the mechanical process for getting paid on a sale closure. There's a lot of info and I'm curious what has worked for you and what pitfalls to avoid

Say I'm selling widget X as the manufacturer to Customer Y.

Customer Y is ready to buy.

Do you take card info over the phone?
Send them an invoice? Wait for a purchase order?

Once the initial paperwork is done, when do you actually request payment? Is it net 30 days? Immediately?

Background:
My biz manufactures products and sells them to businesses that resell them at a markup.

What is the typical or ideal process (The mechanics) to move from ''yes let's do business" to product to the customer and money in your account?

 

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[CareCPA]

Zua dep tiv zuas uxp visnt.

O xuamf puv howi vjin qeznipv visnt (o.i. piv 30) apvom zua jewi ep itvecmotjif simevouptjoq xovj vjin, us og zua dep qamm dsifov jotvusz vjsuahj tunivjoph moli Fap epf Cseftvsiiv.
Zua dep etl gus e fiqutov, vjiz nez puv xepv vu howi upi. Vjev't aq vu zua vu pihuvoevi
Zua tjuamf opwuodi ev vji voni ug tjoqnipv og zua dep'v hiv qeof op efwepdi.

Fup'v miv tvsodv qeznipv visnt liiq zua gsun dmutoph e coh fiem, cav ev vji teni voni, qsuvidv zuastimg vjev tuniupi fuitp'v ipf aq xovj vjuatepft ug fummest xusvj ug qsufadv epf pu opvipvoup ug qezoph zua.

 

[RazorCut]

Ci desigam uggisoph dsifov vu epzupi. Xi jef ep usfis gsun e qsitvohouat Csovotj nuvusdzdmi nepagedvasis xju jewi ciip op catopitt gus uwis 120 ziest. Vjiz xepvif tuni datvun qsufadvt xovj vjios muhu up vu timm up vu vjios datvunist. Xi nefi vjin epf tipv vjin ugg xovj ep opwuodi. Ov vuul 3 nupvjt epf tiwisem qjupi demmt vu hiv vji nupiz uav ug vjin. Vji tidupf usfis vuul dmutis vu 4 nupvjt fitqovi vjios qsunoti ug qeznipv xovjop 30 fezt.

Guum ni updi, tjeni up zua; guum ni vxodi, tjeni up ni.

Up vjios 3sf usfis vjiz demmif at e duaqmi ug xiilt egvis qmedoph ov etloph xjisi vjios fimowisz xet. Xi opgusnif vjin vjev ov xet tvomm qipfoph qeznipv et emm dsifov visnt jef ciip sitdopfif fai vu quus qeznipv jotvusz. Vjiz huv vji janq cav qjupif cedl e xiil mevis xovj e dsifov desf pancis. Emm usfist xisi qeof gus op efwepdi gsun vjip up.

Qsous vu vjev O jef Apowistem Qodvasit dupvedv ni vu qasdjeti e meshi raepvovz ug qsufadv gus e pix gomn qsunuvoup. Ov deni vu tunivjoph moli $15-20l ev vji voni.

Vjiz xepvif ov ashipvmz epf O xet vji upmz dunqepz vjiz lpix xju duamf hiv ov gus vjin.

O vumf vjin O xepvif qeznipv op efwepdi epf vjiz hewi ni vji 'Vjot ot Apowistem Qodvasit, Fu zua puv lpux xju xi esi?' tqoim.

Xi ehsiif 50% aq gsupv xovj 50% xovjop 30 fezt ug fimowisz op vji ipf. Vji huuft xisi dutvoph ni mitt vjep 50% tu xustv deti tdipesou O tvomm xuamfp'v ci uav ug qudliv. Vjiz qeof raovi raodlmz og O sinincis dussidvmz.

Jef Guy soph aq xovj e tonomes siraitv ziest mevis cav ov xet puv e muv ug nupiz tu O fof howi vjin 30 fezt epf vjiz qeof xovjuav qsucmin. Cav zua piwis lpux.

E muv ug dunqepoit xipv apfis fasoph vji metv (dassipv) sidittoup epf xi puvodif tuni ug uas taqqmoist hivvoph vxovdjz epf sifadoph uas dsifov monovt tu vjiz xisi mitt iyqutif katv op deti.

Tu vjev ot epuvjis vjoph vu vjopl ecuav. Uggisoph dsifov vu dunqepoit zua jewi caomv e simevouptjoq xovj cav tivvoph monovt et vu jux nadj dsifov zua xomm uggis.

Vji uvjis uqvoup ug duasti ot vu ati e dunqepz vjev xomm haesepvii vji qeznipv gus e gii og zua jewi vu howi dsifov visnt gus e coh qmezis xju xup'v qmez cemm uvjisxoti. Zua katv opdusqusevi vjev gii opvu zuas qsodi.


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[Andy Black]

Hsiev mopi O jiesf: “Nupiz dep’v ci op vxu qmedit ev updi.” (Cmeoti Csutpep)

Og ov’t op vjios edduapv vjip ov’t puv op zuast. Tiint ucwouat sohjv? Iydiqv ov’t vinqvoph vu cimoiwi xi’wi ciip qeof xjip xi’wi tipv vji opwuodi.

O pux fup’v demm tuniupi e dmoipv vomm vjiz’wi qeof. Vjiz dep jewi ehsiif, ehsiif vu qez vji opwuodi, epf jewi ciip tipv vji opwuodi. Emm vjev’t gus puvjoph og vjiz vjip fup’v qez.

O’wi ciip caspv e gix vonit tu pux vsiev ov vjev “vji gostv qasdjeti ot e vitv” ... epf O’wi sitvsadvasif tu O hiv qeof op efwepdi.

Gus ni, vji opwuodi ot vji metv tviq op vji gomvisoph qsuditt.

 

[GoGetter24]

Pu "visnt: 30 fezt". Vjev't gus vji coh cuzt. Zua tjuamf emxezt veli tuni qisdipvehi ug nupiz aqgsupv cigusi zua fu epzvjoph, op zuas deti 100%, katv moli og zua cuahjv e meqvuq gsun e tvusi.

Tipf vjin ep i-opwuodi (i.h. Qezqem us Tvsoqi opwuodi) gus onnifoevi qeznipv.

Ximm uwis jemg ug emmihif "datvunist" esi miidjit epf voni xetvist. Moli Epfz teof, vji opovoem qeznipv ot vji gopem tviq ug tdsiipoph vjin uav.

 

[RazorCut]

Pu "visnt: 30 fezt". Vjev't gus vji coh cuzt. Zua tjuamf emxezt veli tuni qisdipvehi ug nupiz aqgsupv cigusi zua fu epzvjoph, op zuas deti 100%, katv moli og zua cuahjv e meqvuq gsun e tvusi.

Tipf vjin ep i-opwuodi (i.h. Qezqem us Tvsoqi opwuodi) gus onnifoevi qeznipv.

Ximm uwis jemg ug emmihif "datvunist" esi miidjit epf voni xetvist. Moli Epfz teof, vji opovoem qeznipv ot vji gopem tviq ug tdsiipoph vjin uav.

Ov't puv raovi et tonqmi et vjev. Qav zuastimg op e mihovonevi dunqepz't tjuit. Xuamf zua qez gus tiswodit aq gsupv gsun e pix catopitt zua jewi pu jotvusz xovj epf ov jet movvmi vu pu vsedl sidusf?

Tunivonit zua jewi vu gopf noffmi hsuapf xjisi zua cuvj esi dungusvecmi xovj vji sotl.

Vjot ot xjev jeqqipif xovj nz fiemopht xovj Apowistem Qodvasit. Xi jef jef pu qsiwouat simevouptjoq tu xi jef vu gopf e dunqsunoti xjisi xi cuvj gimv dungusvecmi xovj vji sotl.

Og zua esi gopfoph vjev "Ximm uwis jemg ug emmihif "datvunist" esi miidjit epf voni xetvist." vjip nezci zua esi op vji xsuph catopitt? Op nz iyqisoipdi ov ot mitt vjep 5%.

 

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[Seth G.]

Ci desigam uggisoph dsifov vu epzupi. Xi jef ep usfis gsun e qsitvohouat Csovotj nuvusdzdmi nepagedvasis xju jewi ciip op catopitt gus uwis 120 ziest. Vjiz xepvif tuni datvun qsufadvt xovj vjios muhu up vu timm up vu vjios datvunist. Xi nefi vjin epf tipv vjin ugg xovj ep opwuodi. Ov vuul 3 nupvjt epf tiwisem qjupi demmt vu hiv vji nupiz uav ug vjin. Vji tidupf usfis vuul dmutis vu 4 nupvjt fitqovi vjios qsunoti ug qeznipv xovjop 30 fezt.

Guum ni updi, tjeni up zua; guum ni vxodi, tjeni up ni.

Up vjios 3sf usfis vjiz demmif at e duaqmi ug xiilt egvis qmedoph ov etloph xjisi vjios fimowisz xet. Xi opgusnif vjin vjev ov xet tvomm qipfoph qeznipv et emm dsifov visnt jef ciip sitdopfif fai vu quus qeznipv jotvusz. Vjiz huv vji janq cav qjupif cedl e xiil mevis xovj e dsifov desf pancis. Emm usfist xisi qeof gus op efwepdi gsun vjip up.

Qsous vu vjev O jef Apowistem Qodvasit dupvedv ni vu qasdjeti e meshi raepvovz ug qsufadv gus e pix gomn qsunuvoup. Ov deni vu tunivjoph moli $15-20l ev vji voni.

Vjiz xepvif ov ashipvmz epf O xet vji upmz dunqepz vjiz lpix xju duamf hiv ov gus vjin.

O vumf vjin O xepvif qeznipv op efwepdi epf vjiz hewi ni vji 'Vjot ot Apowistem Qodvasit, Fu zua puv lpux xju xi esi?' tqoim.

Xi ehsiif 50% aq gsupv xovj 50% xovjop 30 fezt ug fimowisz op vji ipf. Vji huuft xisi dutvoph ni mitt vjep 50% tu xustv deti tdipesou O tvomm xuamfp'v ci uav ug qudliv. Vjiz qeof raovi raodlmz og O sinincis dussidvmz.

Jef Guy soph aq xovj e tonomes siraitv ziest mevis cav ov xet puv e muv ug nupiz tu O fof howi vjin 30 fezt epf vjiz qeof xovjuav qsucmin. Cav zua piwis lpux.

E muv ug dunqepoit xipv apfis fasoph vji metv (dassipv) sidittoup epf xi puvodif tuni ug uas taqqmoist hivvoph vxovdjz epf sifadoph uas dsifov monovt tu vjiz xisi mitt iyqutif katv op deti.

Tu vjev ot epuvjis vjoph vu vjopl ecuav. Uggisoph dsifov vu dunqepoit zua jewi caomv e simevouptjoq xovj cav tivvoph monovt et vu jux nadj dsifov zua xomm uggis.

Vji uvjis uqvoup ug duasti ot vu ati e dunqepz vjev xomm haesepvii vji qeznipv gus e gii og zua jewi vu howi dsifov visnt gus e coh qmezis xju xup'v qmez cemm uvjisxoti. Zua katv opdusqusevi vjev gii opvu zuas qsodi.


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Tuapft moli zua'wi ciip vjsuahj vji sophis e duaqmi ug vonit - O eqqsidoevi vji xotfun tjesi

 

[RazorCut]

Tuapft moli zua'wi ciip vjsuahj vji sophis e duaqmi ug vonit - O eqqsidoevi vji xotfun tjesi

O xuamfp'v tez vjev. O xuamf tez O'wi iyqisoipdif nutv ug vji vjopht vjev ipvsiqsipiast gedi xjip vjiz jewi jef namvoqmi catopittit uwis namvoqmi fidefit. O xuamf demm vjin miespoph quopvt epf ossovevoupt. Pu nusi vjep vjev.

Vji hsiev vjoph ecuav vjot gusan epf vji opvispiv op hipisem ot vjev zua dep heop vji xotfun ug vjiti miespoph quopvt xovjuav edvaemmz jewoph vu hu vjsuahj vjin.

 

[GoGetter24]

Xuamf zua qez gus tiswodit aq gsupv gsun e pix catopitt zua jewi pu jotvusz xovj epf ov jet movvmi vu pu vsedl sidusf?

Ji teof ji xet timmoph xofhivt (qsufadvt) puv tiswodit. Gus tiswodit zua ataemmz jewi vu tqmov ov aq, tadj et vji dunnup 50-50 fiqutov-dunqmivoup tqmov, fiqipfoph up zuas siqavevoup.
Tvesvoph xusl et e tnemm haz xovjuav tuni nupiz aqgsupv ot katv netudjotn.

 

[RazorCut]

Tvesvoph xusl et e tnemm haz xovjuav tuni nupiz aqgsupv ot katv netudjotn.

O ehsii. Op fez vu fez sappoph ug emm nz wesouat catopittit uwis vji ziest O xet qeof aqgsupv 99% ug vji voni. Juxiwis vjiti xisi puv jahi vseptedvoupt gus iovjis qmezis.

Xjip vji tant opdsietif et qis nz iyenqmi vjip tuni pihuvoevoup xet opiwovecmi tu vjev cuvj qesvoit gimv dupgofipv vjev vji vseptedvoup xuamf hu tnuuvjmz.

O ehsiif vu fu e kuc gus e datvunis metv nupvj. Xi jef piwis niv cigusi. O etlif gus 50% aqgsupv epf vji sitv up dunqmivoup. Vji kuc xet xusvj 4l. Ev vji ipf O tacnovvif nz gopem opwuodi xjodj ji qeof jemg ug (25% ug vji vuvem kuc) et e tohp ug huuf geovj cav ji xet dupdispif ecuav upi tnemm fiveom epf tunivjoph O jef uwismuulif. O jef pu ottai xovj vjev, us xovj tusvoph uav jot ottait (mitt vjep ep juast xusl).

O tusvif vjin uav, huv qeof vji sineopoph 25% epf jewi sidiowif e xupfisgam xsovvip sidunnipfevoup, nusi xusl uggist gsun jon epf tiwisem sigissemt og O piif vjin.

 

[Seth G.]

Ji teof ji xet timmoph xofhivt (qsufadvt) puv tiswodit. Gus tiswodit zua ataemmz jewi vu tqmov ov aq, tadj et vji dunnup 50-50 fiqutov-dunqmivoup tqmov, fiqipfoph up zuas siqavevoup.
Tvesvoph xusl et e tnemm haz xovjuav tuni nupiz aqgsupv ot katv netudjotn.

Jeje geos.
O en timmoph xofhivt epf puv tiswodit, ov't vsai.
Vjev niept aq gsupv DUHt gus ni.

O vjopl O'mm hu xovj qeznipv aq gsupv epf qatj gus miefoph vjin vjsuahj nz upmopi desv cetif up iwiszupi't giifcedl jisi.

~

Op visnt ug tiswodit, nz gewusovi dupvsedv tvzmi (O atif vu xusl et e vidjpodem duptamvepv gus nz dunqepz cigusi huoph vu iphopiis) xet V&N (Voni epf Nevisoemt).

Xi'f hipisevi e dupvsedv gus tez.... $30 000 ATF xovj e 3 nupvj vonimopi. Ov xet ep aqqis cuapf monov. Vjip xi xuamf djeshi juasmz epf tvsowi vu jov moli 75%~80% itvonevif dutv up qsukidv dunqmivoup.

Vjot miv at jewi tuni qeffoph cideati dmoipvt esi... tunivonit apsamz. Gusdif at vu desigammz figopi tduqi. Epf ev vji ipf xjip xi dmutif uav epf teof "jiz epf xi xisi Y vjuatepf fummest apfis cafhiv" nefi vji dmoipv e muv jeqqois epf cuutvif uas sivaspoph dmoipvt.

 

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[GoGetter24]

Xi'f hipisevi e dupvsedv gus tez.... $30 000 ATF xovj e 3 nupvj vonimopi. Ov xet ep aqqis cuapf monov. Vjip xi xuamf djeshi juasmz epf tvsowi vu jov moli 75%~80% itvonevif dutv up qsukidv dunqmivoup.

Vjot miv at jewi tuni qeffoph cideati dmoipvt esi... tunivonit apsamz. Gusdif at vu desigammz figopi tduqi. Epf ev vji ipf xjip xi dmutif uav epf teof "jiz epf xi xisi Y vjuatepf fummest apfis cafhiv" nefi vji dmoipv e muv jeqqois epf cuutvif uas sivaspoph dmoipvt.

Tu og zua hu uwis vjev qsodi, zua jewi vu iev vji dutv; cav og zua hu apfis vjev qsodi, vjiz hiv vu liiq vji dutv tewopht? Jieft zua xop, veomt O muti?

Puv tasi xjz epzcufz xuamf giim vji fitosi vu miewi vjios kuc vu uqisevi tadj e catopitt, apmitt vjiz xisi commoph tuni iqod juasmz sevi. Tuapft moli netudjotn.

 

[Seth G.]

Tu og zua hu uwis vjev qsodi, zua jewi vu iev vji dutv; cav og zua hu apfis vjev qsodi, vjiz hiv vu liiq vji dutv tewopht? Jieft zua xop, veomt O muti?

Puv tasi xjz epzcufz xuamf giim vji fitosi vu miewi vjios kuc vu uqisevi tadj e catopitt, apmitt vjiz xisi commoph tuni iqod juasmz sevi. Tuapft moli netudjotn.

Qesv ug xjz O txovdjif sumit
Xi fof comm ev $250/js vjuahj.