Shorte LLP is a new law firm struggling to manage its cash flow. Like many new businesses, the firm has not yet developed a sufficient client base to cover its operating costs. Additionally, the firm faced a number of large initial, but nonrecurring, start-up costs at the beginning of the year. Ongoing monthly costs include office rent and salary for a paralegal staff member. Another problem that the firm faces is that several of its major clients have failed to pay their current, but overdue, bills. Mick Shorte, one of the two founding partners, has not taken any salary since the firm began operations over eight months ago, and has decided to maintain a part-time job bartending on weekends at a local resort to ensure that he has some cash to cover day-to-day expenses like travel.

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What suggestions would you make to Mick Shorte to improve his firm's cash management practices?