Would you like managing cash flow in your SME to be easy – so you always have a full bank account?
I got SO fed up waiting for customers to pay. It made me feel anxious. Managing cash flow was a nightmare.
We were invoicing $250,000 every week. To keep my business going, I had to find a way to make sure that $250K flowed straight back into our bank account.
If it didn’t, I wouldn’t be able to pay our expenses the following week. It wouldn’t be long before I’d have to close the doors.
I devised a ‘collections’ process (it was really just admin and customer service), that started from taking the customer’s order and finished with us getting our invoice paid. It worked almost like magic. Everyone paid on time.
Sometimes customers paid BEFORE the due date. That made managing cash flow a breeze.
Watch this video to see how easy it was.
The Secret to Managing Cash Flow
All we did was to disguise our ‘collection requests’ as admin and customer service. It was really a ‘customer care’ program.
Every time we contacted our customers all through the sales process, using customer care, we led them a little bit further towards paying our invoices on time.
Because it was ‘customer service’, clients didn’t realise what we were doing. It was all done through the sales process, which is an uplifting, positive environment.
If we’d waited until after the invoice hadn’t been paid before we contacted them, we’d have been talking to them in a negative environment (‘why haven’t you paid?’)
The Way to Boost Your Cash Flow
If you need a cash flow boost but think you have to wait until your invoices are overdue before you ask for a payment, think again.
If you follow the simple strategy we used, your customers will never know that you’re making sure they pay your invoice by the due date. They’ll just love that great service.
You’ll never again dread feeling like ‘the bad guy’ for chasing up overdue payments.
You’ll get paid, and customers will think you are customer-service superheroes.
Your bank account will be full. Worrying about managing cash flow will become a distant history.
As always, to your success getting paid!