| Whether you believe that you can or you can't - you | | | | would be too much in their face) |
| are probably right. | | | | 3. Follow up outstanding debtors in a firm and fair way |
| FEAR is probably the biggest limiting factor in the world | | | | - noting conversation and holding people accountable |
| of business today. It can manifest itself in a number of | | | | (His belief was that people in professional services |
| different ways but probably the most prominent one is | | | | should not have to do that and it was beneath them) |
| that of inaction supported by the lack of belief or the | | | | 4. Take corrective action wherever possible (His belief |
| saying that "I can't do it" | | | | was that this would bring his business into dis-repute |
| In your search for the small business marketing | | | | and that people would stop referring him) |
| strategy that really works, you must also tag on the | | | | Interesting set of "I can't" beliefs. |
| "belief" code as well. | | | | And look where they got him - deeper in debt to the |
| Recently I started working with a client who needed to | | | | tax man and to his suppliers and unable to pay himself |
| proactively contact each of his clients because of | | | | a salary - Yet his business was profitable. |
| mounting debts. Historically, his practice issued invoices | | | | We applied some small business marketing strategies |
| and waited for the money to roll in. Traditionally his | | | | to his business to attract in a different clientele but we |
| debtor days stood at 45 days - i.e he was owed 45 | | | | also started to address each of the points above. |
| days worth of business from his clients. However, this | | | | They all worked and over the space of a year, he |
| had now spiralled to 90 days and he was in a | | | | began to believe in the power of positioning his client, in |
| cashflow crisis. | | | | requesting payment in advance, in making a decision |
| First we had to develop a plan to collect his money | | | | on delinquents. His business is better and he is in a |
| faster as follows: | | | | better financial situation as well. |
| | | | Being in a business is about managing finances every |
| 1. Issue the invoices on time (His belief was that if you | | | | day. Lack of belief that things can be done in a |
| did that you would appears greedy) | | | | particular way is the single biggest risk that exists. |
| 2. Be clear on the invoice what your terms of trade | | | | For things to change, first you must change and this |
| were - His terms were payment on receipt of invoice | | | | often involves changing beliefs that certain things can |
| (His belief was that if you stated the terms clearly you | | | | be done. |