effective customer communication
Have you ever stopped to think why some companies are better than others at making payments? Is it that they have better cashflow? Or perhaps rely heavily on your business for the supply of products or services?
Or is it more personal than that? Does the person in charge of payments makes a conscious effort to ensure all suppliers are paid? Perhaps it’s the complete opposite where they don’t care and have no allegiance to you or your business?
Many people look at business owners and think we have it all. Certainly, there are many great reasons for setting up on your own. Yet there are a lot of points that need to be considered. Many of which we may not think about until we get started.
This year I am in business 25 years. It’s a proud moment for me as I sit and reflect upon the ups and downs I faced along the way.
Just like customers are the life-blood of an organisation, cashflow is the heart of the operation. In essence, we can’t have one without the other. They simultaneously work together and are needed to survive.
Many organisations who sell to other businesses regularly give their clients credit on account. As a result, these customers have the luxury of ordering products or services and essentially paying later.
Have you ever heard the story by the Indian Priest and Psychotherapist Anthony Demello about the Industrialist and the Fisherman?
It’s a beautiful, yet thought provoking parable that eloquently describes the importance of having enough – just like it’s title.
I heard the tale many years ago and I have to admit, it’s one of those anecdotes that caught in my throat and stuck with me ever since. The heart of the story centres around teaching us to find a balance between money and life.
A number of years ago I had an interesting conversation when I decided to set up a business. The person I was talking to was an older and wiser individual I greatly admired. As a mentor, I heeded any advice they offered. So, I found it intriging when they asked me the question"What was my motive for setting up the business?"
Sometimes we find ourselves in jobs we don’t like and we are eager to leave. There may be periods when we find ourselves redundant. So, we might think about starting a business purely out of panic or necessity.