How To Write the Perfect ‘Thank You for Paying’ Email
Getting an invoice paid on time feels pretty great. You appreciate your clients’ attention to the due date, because it helps your business to maintain a consistent cash flow. You also know how difficult it can be to track down late payments, as well as the amount of work that can go into that task. Prompt payments are a boon to your profitability as well as your own time. And according to research, a simple ‘please’ when it comes to invoice reminders, and ‘thank you’ when the bill is paid can increase the percentage of paid invoices by more than 5%! (more…)
- Published in Invoice Reminders, Invoice Tracking
How to Create and Stick to a Company Budget
If you’re running a small or medium sized business, a well-researched company budget is essential to keep profitability up, and to keep you on track. Setting goals and evaluating each step of your business ideas is crucial to implementing any changes, and a strong budget with clear steps and solid adherence is a great indicator of the financial health of your company. Measuring your progress on a regular basis by sticking to a budget is going to make or break your business. (more…)
- Published in Business Growth, Cash Flow Management, Invoice Tracking
Improve Your Cash Flow With These Simple Steps
Cash flow is a fundamental indicator of financial health. It is crucial to have a solid understanding of where your money is going, and how much is coming in so that your business can stay afloat. Debt management and consistent cash flow are keys to growth, so it is vital to understand the steps to improving and retaining capital. (more…)
- Published in Business Growth, Invoice Reminders, Invoice Tracking
50% of Businesses Fail Within the First Five Years. Here Are The Top Reasons Why.
Starting a new business is exciting. You have a passion for your product or service, you think you’ve identified the market for it, and you dive in after doing your research. But the statistics are harsh: a full 50% of small businesses fail within the first five years of operation. By year ten, this number skyrockets to a full 70%! And according to the US Small Business Administration, this number can vary so much that the failure rate can be as high as 95% by year five. (more…)
- Published in Business Growth, Invoice Payments, Invoice Tracking
Increase Revenue With These Top Business Tips
Increased competition can stall business growth, especially for small and medium sized businesses. Without strong sales, a company’s future is at stake. Growing your business is not easy; the dedication and perseverance needed can be overwhelming. But understanding how to manage growth and profitability is key to ensuring longevity. (more…)
- Published in Business Growth, Cash Flow Management, Invoice Payments, Invoice Reminders, Invoice Tracking
When Should You Use a Collection Agency?
Your small or medium sized business can suffer quickly, with long-lasting repercussions, if even one payment is missed. Your cash flow depends on a steady stream of reliable payments from your clients. How do you know when it’s time to hire a collection agency to deal with your outstanding invoices, and what sorts of things should you be doing before that step is even considered? You have legitimate receivables that need to be collected for the sake of your company’s financial health, and a collection agency is a great option when you can no longer do it yourself. (more…)
- Published in Business Growth, Cash Flow Management, Invoice Payments, Invoice Reminders, Invoice Tracking