It seems to be a perennial issue for business owners that they know they need help … but struggle with the concept of paying fees to get it… when they’re already struggling with profit and cash flow.
How can they overcome this roadblock and feel safe to pay for help and realise the improved profit and cash flow that comes from good advice and help?
A term we feel explains how to overcome this is ‘Pay for itself’ service.
How does it work?
We find that often the money in business is just in the wrong place … i.e. it’s in:
- Lost sales, due to incorrect pricing
- Lost sales due to low labour utilisation
- Lost sales, due to lack of non-financial KPIs
- Excessive costs and overheads, due to lack of analysis and budgeting
- Excessive stock, due to lack of planning
- Jobs not being invoiced quickly enough and run efficiently
- Customers taking too long to pay
- Suppliers demanding payment too soon
- Lack of growth funding, due to inability to ‘tell the story’ well enough to lenders/investors
- Excessive finance costs, due to lack of negotiation and poor understanding of contracts
- Excessive taxes, due to lack of planning
The issue re the above is that the money needs to spend more time in the bank account and less time in these places.
It’s all about wastage, isn’t it? Wasted opportunities due to lack of understanding and hesitancy to pay someone to fix it and head off these cashflow and profit gobblers.
If you’d like to know more about ‘Pay for itself’ help to avoid missing out on fantastic opportunities in your business click here to speak with a CFO.