What discount percentage does Jeff McConnell mention as an example for quick-pay negotiations?

Cameron HeroldFounder of the COO Alliance & Invest In Your Leaders Training

Why Jeff McConnell, COO of Beyond Diet, Chose COO Alliance

28 Mar 2018 · 1 min

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0:36

Jeff McConnell, COO of Beyond Diet, shares two ways to boost company finances: negotiate quick-pay discounts with vendors to cut costs by about 5%, and focus on raising your average order value. He treats the first as an immediate tactical win and the second as an ongoing strategy.

Questions this video answers

Approximately 5% off an invoice.

Chapters

Really two things. One of them is very, very tactical and very easy, and I could probably do it on Monday is negotiating a quick pay discount so we have no cash flow issues at all. And if I can just shave 5% off of an invoice for utilizing our cash in our benefit, that's an easy one. And then the idea of raising the average, that's a theme that I took from first thing yesterday. And I've carried it through every one of these exercises and found a way to act on it that I think is going to be very successful where I haven't until now.