The Collections Coach
• Cashflow is critical
• A sale is not a sale until it’s paid for
• Could you afford to rent a house or pay a mortgage without an income?
• The same concept applies to your business
• Could you afford to rent or buy your premises and pay your employees or purchase stock or raw materials without a consistent income ?
• Various financing facilities are available to fund the cost of outstanding invoices, however this option may be appropriate for the short term, while the longer term impacts need to be carefully considered
• So why pay unnecessary borrowing costs when you could simply improve your cashflow through basic and timely management of your debtors
• No matter what your type of industry, whenever you are providing trade or credit terms to your customers and operate an accounts receivable portfolio of debtors, it is critical that you receive payment within a reasonable timeframe rather than delivering the goods for customer use or resale while you continue to fund their cost
• Outstanding sales invoices need to be controlled and minimised to return the revenue back to your business promptly
• Whether you operate using your own personal funding, bank backed funding, cashflow finance, or factoring, the need to recover your unpaid invoices is paramount
• Cashflow finance has benefits for short term cash raising, however it is not the ideal cashflow alternative
• The longer term solution is having an effective accounts receivable process that provides significant benefits across your business and could be your financial lifeline.
As The Collections Coach, I focus on implementing controls to improve your cashflow. These may include reducing your debtors, implementing an accounts receivable function and related procedure, designing your trade credit policy, and providing staff training, all tailor-made specific to your business needs.
• Would you like to explore avenues of how to stretch your business performance?
• Would you like to partner with a coach who will provide thought provoking and challenging processes in a healthy, friendly and positive environment to enable you and your business to explore potential opportunities for enhancement?
• Would you like to feel inspired to maximise your potential both personally and professionally within your business?
As a Business Coach and “Your Partner in Business”, I will discuss your options, and can come to you for implementation, regardless of where your business is located – be it city, metro or regional.
The service is cost effective and need not be an ongoing outlay, however you may also see ongoing benefits for a longer term partnership.