- This event has passed.
Making Debtor Management Easy
Xero found 62% of small businesses didn’t think they’d survive more than 3 months if their invoices went unpaid, and other studies found the longer you wait, the less likely you’re going to collect the cash. The types of things I’d cover would include:
- The importance of structure and consistency: all small business owners are busy but it’s critical to become disciplined in this area because it’s crucial to their survival, as is applying consistent process and pressure on all outstanding debtors to repay.
- A suggested process: what to do 2 days after a bill is sent, 7 days after, one week overdue etc.
- Suggestions on how to screen potential customers e.g. starting with payment in advance, milestone payments, credit checks, google searches, warning signs to look for.
- The importance of being up-to-date with their sector/industry, because the grapevine is usually a valuable source of information on who’s struggling to pay their bills.
- When to move on and what to do if a customer continues not to pay up
Amy Chen | Amy Chen Coaching & Consulting
After a decade in financial services, Amy turned her focus to working with small businesses when she constantly saw owners pushed out of their comfort zone when she quizzed them on their financials. What she saw were bright people, highly skilled in their area of expertise that with the right help, could easily take control of their numbers to allow time to focus growth and profit. Putting in this work gave clients the confidence that their business foundations were rock solid. Her goal is to provide small business owners with the right tools to conquer their financials to empower them to make informed decisions so their business can thrive. Taking a no BS approach, Amy believes your business mantra should be cash is king, and numbers are easy, when you have the right knowledge. A regular contributor to publications such as Entrepreneur and Smart Company, Amy has worked with companies across many industries both domestically and abroad. She uses her extensive commercial and financial background to help small business owners get to the bottom of their numbers. In doing that, you take control of your cash, you can go back to focusing on what you love doing, without stressing about whether there's enough money to pay the bills. Click here to find out more about Amy...
You will receive an email confirmation with a link two days ahead of the webinar.