Our Latest Blog Entry
04 February 2021
How Understanding the Dual Nature of Your Business Means Getting Your Invoices Paid on Time, Plus More Repeat Orders and Referrals.
The planet on which you live is made up of the Northern Hemisphere and the Southern Hemisphere.
Your brain has a left side and a right side.
The coins in your pocket have heads and tails.
And your business is no different.
Every business there has ever been, or ever will be, can be viewed as a fusion of two distinct parts. They are:
Front end: Provision of goods or services.
Back end: Getting paid.
You created your business to provide your goods and services, and so long as you get paid, you’ll continue to provide them. Simple enough?
Well, not always.
And even if you get paid up front, you’re not exempt from problems after the transaction is completed.
So how can you really get the Front End and Back End of your business working in harmony?
Most people agree that it’s hard to go wrong if you provide great value to your customers, which is a great starting point, but still, only if you get paid.
There are three keys to unlocking a “Paid on Time” culture for your business. They are:
Forget about under promising and over delivering, or even over promising and over delivering (as I heard a national network leader preaching recently).
To maintain your integrity and the integrity of your sales process, you should always give your customers precisely what has been agreed – nothing more, nothing less.
Integrity should be backed up by outstanding service.
How you work with, serve, and enable customers, is crucial if you want to be paid on time.
Your customers’ perceived value gained from dealing with you will undoubtedly come from the strength and importance of your relationship with them.
This is perhaps the most important of the three keys to a “Paid on Time” culture, because it’s the product or sum of the first two.
Integrity x Service = Relationships, or Integrity + Service = Relationships.
Over time, if you provide your customers with precisely what they want or what has been agreed, and you deliver this alongside outstanding service throughout the process, you will build high-level, strong relationships with your customers.
You will find that more and more customers will come to truly value your service and think of you as a “preferred supplier”. They’ll pay you on time and ahead of others.
Many may well pay early! And they’ll do this because they like you.
Remember the dual nature of things and the coins we mentioned earlier? The ones in your pocket with two sides? Well, consider this…
HEADS: People buy from people they like.
TAILS: People pay the people they like, first.
Not only will this improve your cash flow, but you will see an increase in new business, which also comes in two parts:
MORE: Repeat business. MORE: Referrals.
Let’s chat. Call the surgery now and book an appointment – 01536 333425.