Is Late Payment a Significant Issue for Small Business Owners?
In the world of running a business, particularly for small enterprise owners, managing invoices can often become a daunting task. A conversation with a client made this reality hit home. He shared his experiences from when his business was still growing. As a smaller operation, he faced the challenge of personally handling late payments and the tedious task of chasing down overdue invoices.
Now, with the growth of his mid-sized business, he has delegated this responsibility to a team member. However, during those earlier days, this aspect of his business posed a considerable headache. To alleviate this burden for him, I developed a solution designed to maintain consistent cash flow and ensure timely payment of invoices. This system effectively eliminated the need for him to pursue payments, providing him with much-needed peace of mind. He was thoroughly impressed with the outcome.
The intriguing part is that offering such a service wasn’t initially on my agenda. Yet, this successful experience compelled me to ponder: Are other small business owners confronting similar challenges? If this is a widespread issue, I am seriously contemplating the idea of venturing into this domain to offer my expertise and help streamline their financial processes.
