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andrewfirth
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The challenge you face is the same as any expanding business. I would suggest preparing a budget which would set out your costs and your expected sales. This information can then be used to calculate the number of sales you need to break even. For example if your costs to attend a trade show or exhibition are say $1,000 and your average profit per sale is $10, then you will need to sell 100 units to break even. Once you have done your budget you will be able to change some of the assumptions and see if the next step is a viable one. To minimise the impact of giving credit terms to your clients, ensure that you can turn around the product quickly, invoice immediately and follow up payment promptly. Other short term finance may be able to be obtained to cover this period of time. In relation to not giving credit – I think it could come down to how you ‘sell’ it, however if you really can’t give any credit then it may be an indication that you are not quite at the stage to take this next step. I wish you well with the opportunity!