What they don’t tell you in biz || Part 4 ||

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It’s time to tackle the unspoken but all too common pain point… getting paid for your time.

 

Hands up if you have chased an invoice, sent reminders, got on the phone, sent more reminders and… crickets?

At the end of the day, throwing away hard earned cash?


I started my first business in the wrong way, to my admission. Maybe it didn’t help, but I knew no better than what my personality screamed at me five years ago.

It grew organically, 100% from my heart with no business skills then to ask for the sale. I would work for free or so utterly cheap that there were no questions asked and if someone didn’t pay, oh well. I wouldn’t want to offend them by chasing them up.

{ Face palm }

This was when my business was more of a hobby and to be honest it didn’t matter much as long as I got some payments. Set up was small, income was small, expenses were small and we were covered by a full-time income. It didn’t affect staff pay, growing expenses or the food that needed to be put on the families table as kids grew and circumstances changed.

As things developed and the seriousness of needing the second income did too, so did the headaches over being paid. Not by the big business, I have to admit, but the small and medium businesses that funnily enough are waiting for others to pay them too.

I have to ask, “SO WHO IS HOLDING UP THE QUEUE?”

There is a roundabout happening, a stuff up in the system where that person can’t pay that person who then can’t pay that bill and person and on it goes. The more I listened, the more I heard that this is a problem with running a business and one that is common to all at some stage.

 

Why did no one tell us that the majority of our time we would be

chasing payments and what can we do about it?

 

So here is the truth – as much as one may look like they earning big bucks, growing business, employing more help and stepping up to new heights, they could very well be counting pennies. What happens is, when there is a hold up in the pipes, everyone gets behind… so that when cash comes in, cash goes out quicker than ever.  No one is actually getting ahead how they should. So what do we do, we do the proactive approach, right?

1.) Ask to be paid before working on contracts.

2.) Become clearer on expectation setting.

3.) Set up automatic reminders.

This helps, however, what if  it’s still a thing?

 

People I talk to daily are finding themselves working numbers instead of what they are best at (unless you are a bookkeeper). Disheartened because creativity is then dampened, work days cut into.

“Sorry, I can’t come to your business course that I know I need this year.”

“I can’t book dinner tonight to celebrate seven years in business.”

“The kids need new clothes, they’ll have to wait longer.”

“Another “fun weekend at home” or a cheap picnic at the park instead of a much needed treat away for working so hard.”

 

Then…. the killer… when you see your debtors out and about……

doing exactly what you are dreaming of being able to do with your own loved ones. 

 

*BOOM HEART CRUNCH*

This isn’t a sad, pity us story and in no way directed at specific individuals. This is another issue in business that people are scared to talk about. There are so many businesses in the same boat who are working their guts out too, chase the weekly pay check that never comes because bills come first. You see, it’s not about earning the dollars, it’s not about being rich or even being able to treat yourself, it’s about paying our own way and providing the basics for our families. This current held up system…. sets one up to be one of “them” too, owing money to others and receiving a bad name.

It’s wrong, just wrong.

 

 

 

I’m bravely calling this out today. Enough is enough – who is messing with the scales? Small businesses need to be paid and paid on time to survive. Let’s encourage entrepreneurs and local services by paying them and if you can’t… please communicate, answer the phone and make some arrangements at least.

No one likes to call on the Dennis the Debt Collector.

 

 

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