Using the 7 Habits from Stephen Covey’s book, I went from almost running out of cash in my recruitment business, to all my clients paying on time and having zero past-due invoices.
Habit #1 – Be proactive. 60% of all invoices are paid late because of an error. That’s how they become ‘past due’. Use a checklist to get yours 100% perfect.
Habit #2 – Begin with the end in mind. Resolve to make a profit. Unpaid and past due invoices erode your profit.
Habit #3 – First things first. If customers don’t pay, you don’t have a viable business. Make getting paid as important as making a sale – because if it’s not paid, it wasn’t a sale. It was a loss.
Habit #4 – Think win-win. Introduce a world-class service culture and customers will love you, pay on time and reorder. Who doesn’t love great service?
Habit #5 – Seek first to understand. Gracefully give your customer the benefit of the doubt until you know otherwise.
Habit #6 – Synergise. Work with your customers. They can help you grow your business.
Habit #7 – Sharpen the saw. 44% of businesses close their doors every year because they run out of cash. Make having zero past-due invoices a priority in your business.
Build your confidence with the ‘7 Habits‘ and see your invoices paid on time, your stress levels disappear and your cash flow grow.
To your business success!