RedVector Online Education for Design and Construction

Cash flow is the life blood of your firm and lack of cash is the primary cause in 92 percent of all bankruptcies. Increasing cash flow, managing cash, and using cash to your best advantage is as important to your business as superior architecture or design work. This 2-hour interactive online course helps find new ways to generate cash and get your clients to pay quickly.

This is the second and third chapter of the “Financial Management for the A/E/C Firm” course series from PSMJ Resources, Inc. offered through RedVector.com in its entirety. We strongly recommend that you take all nine chapters of this course series.

You must have Flash Player Version 7 or higher to view some parts of this course. We also recommend you view this course in Internet Explorer.

After completing this course, you will be able to:

• Track down and utilize alternative sources for securing working capital
• Negotiate an efficient fee collection system with your clients
• Develop an easy-to-use system for tracking down outstanding fees
• Employ cash discounts when and where appropriate
• Utilize worksheets and sample rate calculations
• Determine a price that will be agreeable to your clients and profitable for you
• Leverage the concept of value pricing to get your clients to pay you a premium for your services
• Use a seven-step strategy to prepare clients for your price
• Get your clients to pay for reimbursables
• Utilize worksheets and sample rate calculations

This course includes a multiple-choice test to gage your understanding of the material.