Hi, everyone, it’s Toni here for The Business Planner and my specialty is planning preparation.
The reason why I’m bringing this to your attention is because the company that I was working on last year was a pen-and-paper trade-based company.
I know that there is still a lot of companies out there that are still doing everything by pen and paper – losing carbon copies, not following up with quotes or outstanding invoices. Sometimes, we even forget to process accounts! Thousands and thousands of dollars wasted. Gone! We don’t even know about it.
When I started processing and pulling apart this new company, I knew that we had lost over $10,000.00 within the first six weeks. We lost $10,000.00 by not invoicing. It was amazing how I found out that we lost money due to the process I implemented for that company. I can show you how to do the same things I did, the same exact methods to help save your company!
But first, let me tell you a little bit more about how to do it and why it’s so important.
For the company I mentioned a while ago, it took six months after implementing my procedures in systems to see its effects.
There were so many changes that were required. It was overwhelming for everybody, the staff and owners and clients. Everybody was confused and nobody knew what was happening.
But I knew what to do.
I had to persevere. I had to push through. I had to make sure I followed my master plan to make sure we succeed.
The monetary value of all that was over $100,000.00. Can you imagine that amount of potential lost revenue that occurred throughout this process?
Simply put, we knew that there were jobs that were not being processed and we were able to snap them up! We made clients pay us. We made clients finalise their accounts. We made sure that we were paid even if they were a few months late. And this is exactly what I’m talking about.
What could you do with $100,000.00?
I know I could do a lot with it!
It is paramount that you proceed with your company with the same structures and respect that it deserves. Your clients need to follow that rule as well. By putting systems in place and ensuring your clients are well aware from the moment they sign up with you, to the time they walk out of your office – to what they are required from and and what is required from you, then 99% of your problems will disappear!
What can you do today to change some processors within your company to make sure your clients understand?