Successful growing Businesses and the cash flow problem
The Cash Flow Problem…
Business and financial advisers all stress how important it is for a growing business to have strong cash flow…
…but what are the practical steps you need to take to have strong cash flow?
How I Solved My Cashflow Problem
In my first year of business, and growing rapidly, my biggest customer couldn’t pay. Potential disaster.
I was days away from closing the doors.
Luckily I got paid and my business survived. But I wanted it to be really successful so created a simple 5-step process to make sure all our customers paid on time in future.
5 Simple Steps = Success
From that day, cash flow was always strong. The business was very profitable and grew to a $12 million turnover. I never had to borrow a cent and we never lost a customer.
I sold that business 15 years later and retired to France.
It was only after I sold my business I realised that simple 5-step process was one of the key reasons for its success.
“I was heavily involved in the acquisition of Jan’s company, Credit Recruitment. Jan was not good; she was exceptional at managing cash-flow. Her process comes from absolute experience and knowledge that is why it is effective. Nothing beats experience, it’s a matter of fact.”
Senior Executive, Michael Wilmot Business Management Services
How the 5 simple steps changed my life
A Success Story
After spending 15 years building my business I made a successful 7 figure exit.
I now spend half the year in south-west France and the other half in Sydney Australia living the life I always dreamed of.
However it wasn’t always like that. When I first came to Australia I was newly divorced and had little more than the clothes I’d brought with me …no home, no car, no job and just a few thousand dollars.
Needing to make a change in my life, I started a recruitment company specialising in credit control and collection positions.
Poor Cash Flow Almost Cost Me My Business
Fast forward a few years and the business was doing well. Sales growth was good but I had lost focus on managing my debtors. After a 20 year career in credit control, I should have known better!
The wakeup call came when my main client was taken over and all their bank accounts frozen. At the time they owed me $100,000. My invoices were no longer being paid. If I couldn’t sort this out my business was finished, and I would have no choice but to go bankrupt.
It was terrifying. I risked losing everything I had worked so hard for.
The 5 Step Solution
It was during this painful period that I developed a way to negotiate with the new company that saw all my invoices paid. My business not only survived but went on to thrive.
Lesson learned. I never wanted my business – or me – to face a risk like that ever again. I developed and implemented a 5 step, easy to implement GET PAID! process.
From that day, every customer paid us in 30 days or less. If I can do it, so can you.
Download your FREE ‘sneak peek’ of GET PAID!
Jan’s Amazon #1 Book
Download your ‘sneak-peek’ of this easy-to-read book, receiving rave reviews from the business community.
Continue your journey here…
GET PAID! Masterclass
Discover what to do, what to say and when to say it, to make sure you get paid on time and never lose a customer.LEARN MORE
Resources you can utilise to instantly help you get your invoices paid faster, while keeping your customers happy.LEARN MORE
GET PAID! Book
Do you have heaps of overdue invoices, and customers not paying you ontime? My book is especially for you!LEARN MORE