When you’re juggling the demands of starting a small business, every minute of your day matters – and so does every dollar that comes in the front door.
Try as you might to budget your time appropriately across the different areas of your business, it’s all too easy to become so caught up in the work of your business – that is, serving your customers – that you continually put off the sometimes tedious work of actually invoicing them.
Nonetheless, it’s critical to the immediate and long-term success of your business that you manage your cashflow. Luckily, collecting payment from your customers doesn’t need to be a chore when you have the right tools and processes in place to help take care of the financial aspects of your company.
Invoice Electronically
Are you still creating invoices in Microsoft Word and then printing them out to mail to your clients? You can save time (and trees) by moving to electronic invoicing.
If you use accounting software, it almost certainly includes a feature to invoice your customers electronically. Simply by eliminating “snail mail” from the invoicing process, you’ll be able to secure payments both easier and faster.
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