The case of worried fishermen
... selling on account allowing them to pay just once a month at the end of the 30 days cycle. But Nephi pays the captains for their days of work everyday. He is making a mistake and breaking the very basic rule that says, “Buy on credit, Sell for cash.” He trusts his customers too much. What could happen if his customers fail to make the payment? There is cash is going out everyday but there is no cash is coming in. This could be the main reason why he has been using cash from his savings account to keep his business going. I think 1st solution to improve his fishing business is, to collect cash from the customers everyday, or at the end of the week. When he receives cash everyday, he will be able to operate his business in proper way. The 2nd solution for him to recover the business could be to raise the price, since he is delivering the fresh fish to the customers plus he ...