3 Simple Tips To Help Small Businesses Get Paid On Time
Every small business owner has big ambitions. For some, dominating the domestic market isn’t good enough — and in countries like the U.S., that’s no easy feat! If you’re a growth-minded business owner, the world really is your oyster. And we’re here to help.
In order to achieve your desired growth, you’re going to need to have a strong hold on your business finances. This is vital for creating a stable future in which your company can scale globally.
One way to help ensure your finances are in good health is to get paid for your services on time. This can help free up your cash flow, and leave you with more room to grow and gain global access.
Here are 3 simple tips to help you get paid on time:
#1: Create a Strong Invoice Template
This is a simple tip that can make a huge difference when it comes to small businesses getting paid on time.
Be sure to create professional looking invoice templates so that customers feel they are dealing with a legit, well-run organization when they receive your invoice.
Ensure your branding features somewhere, that all your contact details are clearly visible, and (most importantly) that the payment terms are very clearly shown.
#2: Have a Flexible Billing Strategy
Too much cash tied up in unpaid invoices can lead to cash flow problems. It can be super frustrating to deal with clients who are consistently late with their payments. They probably won’t change — but how you manage them can!
Instead of wasting time on unanswered emails and phone calls — get creative. Maybe you’d both benefit from regular installments, or maybe they’d be more likely to pay if they receive a slight discount for prompt payment? Find what works best for you and the client in question.
#3: Check out Truly Financial
Small business owners are some of the world’s busiest people. It directly impacts your business when you have to juggle multiple banking services, that cost you time, money and growth opportunities.
Built specifically for small business owners who are looking to scale globally, Truly Financial takes fat-cat banking out of small business finances, leaving only the good stuff.
The waitlist is open and the first 1,000 to sign-up get $100 in their Truly Financial Account!
