Let me ask you a question.  Think back to the last time you got a product or service that was not 100% of what you ordered, or was delivered / provided late.

What did you do when it came time to pay for that?  Did you rush and pay the supplier, or did you drag your heels and pay the supplier later? 

If you are like many people I talk too, you delayed paying the supplier.

And what if that supplier was you? 

Your cash flow is being adversely impacted because of mistakes your business is making. 

And the typical mistake I see business make is that what they promised or sold is not what they delivered.

Maybe you sold an apple and delivered an orange.  Maybe your customer thought they were getting a green granny smith apple and you delivered a red delicious apple.  Or maybe you delivered an apple with a worm in it.

And what compounds this, is that rarely does the business know it is making a mistake.  It just assumes that the customer is a slow payer and no one asks the customer why they are paying late.

What you need to do is ask the customer why they are paying late.  They may have genuine cash flow issues, but maybe they are paying late because of a problem in your sales / delivery process.

And if they had a problem, maybe other customers are experiencing the same problem.

Imagine the change you could make in your business, if you knew about the problem and took steps to fix it. 

Not only would your customers pay you faster, improving your cash flow, but more importantly, satisfied customers are more likely to buy again from you.  Therefore, increasing both revenue and cash flow in the future.

That leaves me with one last question for you.  Are you missing out on cash because of mistakes in your sales / delivery processes that you don’t know about?

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Let Wayne Wanders, the Wealth Navigator, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges to grow your business profitably faster

Wayne Wanders. A Real CFO

The Wealth Navigator

wayne@aRealCFO.com.au

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