You’ve just closed an account, converted a lead into a customer – congratulations! Now you can relax… or so you thought. Now the real work begins, and I’m not talking about the service or product they’ve paid you for – I’m talking about getting the money they owe you!
Getting your customers to pay is one of the most arduous tasks you can face, and probably not one you thought you would have that fateful day you decided to start your own business. The truth hurts, but it hurts even more when your customers don’t pay!
So how do you get your customers to pay you on time? This is something you have to work on by design. I found a really interesting infographic which you can see below, and is ironically represented in the comic above.
Rarely will your customers pay on time. This makes it a pain to manage your business, cashflow was the biggest reason in 2013 that new businesses didn’t succeed. There are solutions to help you solve this. As explained above, the terms you set out are important, once you’ve been operating for a while you will be able to get a better idea of what works best for your business and customers.
A great application to help you is SimpleInvoices. SimpleInvoices lets you intuitively generate, manage and track invoices. You can completely customise your invoice, making it aligned with your branding and anything else you want on there. They support PayPal and EWay Merchant Hosted payment gateways, meaning you customers aren’t stuck with the only option of direct debit.
The best thing about SimpleInvoices is that through the data gathered of your customers, it will generate reports according to customers, products, taxes and more! This means you can break it down and even set different invoicing dates for certain types of customers or even based on the product they purchase.