#341 // 3 Things That Stop Money From Coming Into Your Business

You are doing a good job, with good people, for good people, using good materials, for good money (on paper). Cool. None of it counts until the money hits your account.

In this episode:

-why invoicing + getting paid should be the BEST part of your week -the fear behind late invoices + variations, and how to face it head on -sending invoices + variations on time, every time -talking about money on site, and in the office, before it becomes a problem -having someone chase up overdue invoices every single week

Remember, the only way to get better about talking about money is to talk about money.

Combine talking about money with knowledge of money (ie GP, NP, %’s etc) and you will progress much faster in building a business that is a blessing to yourself, your family, your clients, your staff, your community, and anyone who comes in contact with it.

Much love x

Primary goal

Educational

Summary

In this episode, Greg Crowe explores the three key reasons why businesses often struggle to receive payments and how to overcome these obstacles. He emphasizes the importance of timely invoicing, clear communication, and aggressive follow-up on receivables to ensure cash flow and business success.

Keywords

business cash flow, invoicing, receivables, communication, business tips, payment collection, financial management, entrepreneurship, small business, Greg Crowe

Key Topics

The importance of invoicing and getting paid Common reasons for delayed payments How fear and disorganization affect invoicing Strategies for timely invoicing and variations The role of communication in payment collection Chasing overdue receivables effectively Using systems like Dave for business management The mindset shift needed for better cash flow

Takeaways

Invoicing and getting paid should be the best part of your week. Fear and disorganization are major barriers to timely payments. Communicate clearly and regularly about invoices and variations. Always send invoices on site or immediately after work. Chase overdue receivables weekly and persistently. Use systems to track and manage receivables effectively. Understand your numbers to communicate value confidently.

Sound Bites

"Invoicing and getting paid should be the best part of your week." "Fear and disorganization are major barriers to timely payments." "Chase overdue receivables weekly and persistently."

Chapters

00:00 Introduction: Why Cash Flow Matters 01:53 The Root Causes of Payment Delays 03:48 Fear and Disorganization as Barriers 06:04 The Power of Timely Invoicing 07:52 Systematizing Invoicing and Admin 10:01 Communicating About Variations and Extra Costs 11:47 The Importance of Regular Follow-Up 14:00 Using Numbers to Strengthen Payment Conversations 15:56 Chasing Overdue Receivables Effectively 17:48 Case Studies and Personal Stories 19:56 Taking Control of Your Cash Flow 21:52 Final Tips and Mindset Shifts 23:45 Conclusion: Make Invoicing the Best Part of Your Week