This is the first episode (19 minutes) in a mini-series exploring how to raise money for your projects. In this heavily opinionated, rant-laden (yet valuable) episode, Jared explores a few dangers, dead-ends, and pitfalls to avoid when raising money. Enjoy the episode! And one more thing…follow us on Instagram and Facebook for more tips and ideas to improve your business!
[3:00] – The need to have your policies and procedures written down.
[4:30] – Protecting yourself by getting info from customers for invoicing, checking credit and references.
[8:50] – Incorporating Accounts Receivable reports are circulated during staff meetings.
[11:20] – Fraud risk is highest in the area of accepting payments.
[12:30] – Fraud is often driven as much or more by opportunity than motive.
[13:10] – The need to monitor bank reconciliations.