Not long after I started my business, I was almost a statistic…
… I was almost one of the 44% of business owners who close the doors every year. They can’t get their invoices paid on time so they run out of cash.
That was super-scary and that’s what led me to Michael Gerber’s book, The E-Myth.
Michael Gerber’s advice is that you need a system to run a successful business.
Within that system are smaller systems for the most important things in the
- Important System #1 is how to make a sale. No sales = no business
- Important System #2 is getting your invoices paid on time for those sales. Not being able to pay your staff, your suppliers or yourself also = no business.
I’d almost run out of cash because my invoices weren’t paid and I had no cash…
I followed Michael’s advice and documented the process for ‘how to make a sale’. Then I taught other sales staff.
But before that, I made a simple 5-step system that got all our invoices paid on time. We got all our invoices paid by the due date – and all without ever upsetting a customer.
Watch this video to find out how to get your invoices paid on time too.
What systems do you have for making a sale and then getting your invoices paid on time for that sale?
To your business success!