One thing that has helped our cash flow tremendously is the fact that we bill and get paid in advance. It took a long time to get to this point in our business but once we made the shift we noticed immediate benefits.
Many service Industries bill in arrears, meaning they bill after work has been completed. Contractors will often take a deposit and payments after completing milestones, and their final bill will come sometime after all work is complete. Then, if they have payment terms of 14 days, 30 days, 60 days, or even 90, they often have to wait weeks, if not months, to get paid.
Most of our clients are on auto-pay, meaning we draft their account or charge their credit card automatically every month. There are a few that pay us by check, but if they do our payment terms are seven days. Sometimes prospects will question that, but overall it works for us and helps us get paid faster.