This One Change Got Me Paid 2x Faster

CUSTOMER ENGAGEMENT MATTERS
Solving customer issues quickly leads to increased cash

Doing great work means nothing if the money doesn’t show up on time in your bank account. Whether it’s chasing late payments, dealing with invoice disputes, or waiting forever for cash to hit your account, these issues can strangle your cash flow and stress you out.

The good news? A few small shifts in how you set expectations, invoice, and collect can speed up payments, eliminate back-and-forth, and get more cash into your business faster. In today’s email, we’ll break down practical ways to stay in control of your income and keep your business financially healthy.

Read through today’s newsletter and come back to answer this trivia question!

GET PAID TIMELY
So many pay late making you finance their debt…let’s avoid that

Set Clear Payment Terms Upfront
Define due dates, late fees, and preferred payment methods before work begins. Get a contract signed and in place. This small consulting biz I run follows this every time. If we are going to do work together, we will have an agreement in place that protects both you and me.

Send Professional Invoices Immediately
Don’t delay billing—send clean, branded, detailed invoices right after delivery to start the clock on terms. You don’t want to batch and hold invoicing until end of month.

Use Automated Reminders
Leverage software like QuickBooks or Xero to auto-send polite nudges as the due date approaches. Use the system, your email, calendar, etc. to make sure you stay close on timing.

Incentivize Early Payments
Offer a small discount for early payers (e.g., 2% off if paid within 10 days). This varies by company/industry so do the analysis up front if offering discounts is doable for your business. It may not be a great option for some, but for others it may make complete sense.

Build Personal Relationships with Accounts Payable Contacts
A quick friendly check-in can often get your invoice pushed to the top of the payment stack. Too many times your AR team (or you) are given a middle man to contact vs the AP group. I highly suggest pushing back for an actual Accounting contact vs a buyer.

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INVOICE DISPUTES
Disputes can kill cash flow

Use Clear, Itemized Proposals or Contracts
Scope creep and misaligned expectations often cause disputes. It’s crucial to get everything in writing as I mentioned above. This protects both parties and I do not recommend doing any work unless you have a signed contract in place with the other party. This makes sure the work is outlined, pricing agreed to, deadlines set, and holds both parties accountable if there ever were issues to arise.

Confirm Milestones Before Invoicing
Ensure the client agrees that deliverables are met before sending a bill. Make sure they understand their window of time to actually dispute an invoice too.

Add Visual Proof or Documentation
Attach reports, screenshots, time logs, or delivery confirmations with the invoice. Highly suggest visually putting a statement on your invoices that says something like “You have 14 days to review or dispute this invoice.” Outside of that the invoice is accepted AS IS.

Have a Client Handoff Process Post-Delivery
Verbal walkthroughs or summary emails help avoid misunderstandings. I personally get very detailed on my invoicing to make sure there’s no surprises as to what I’m billing.

Include a Dispute Resolution Clause in Agreements
Pre-agree on how issues will be resolved to keep things professional and fast. This may also be the area to include the statement on only 14 days after invoicing to dispute.

SPEED UP INCOMING CASH
Finding ways to implement cash faster into the business

Offer Multiple Easy Payment Options
Accept credit cards, ACH, PayPal, and digital wallets to remove friction. At minimum, I’d highlight ACH/Wire as your preferred method. Do you have a payment doc to share with your customers? You should.

Use Retainers or Prepaid Packages
Collect partial or full payment before beginning work where possible. This helps you cover expenses immediately associated with the project or if you feel they are a financial risk (won’t pay timely or credit report shows signs of strain) then I’d put on prepay terms or COD (Cash on Delivery). So with COD meaning before you release that shipment/product, they have to pay at that time.

Bundle High-Value, Fast-Delivery Services
Create quick-win offers that solve urgent problems and can be paid upfront. Some customers we tailor our services to very specifically as we can provide value to them very easily/quickly. Identify those customers.

Follow a 1-Day Invoice Rule
Make it a rule to invoice within 24 hours of completing the work. Do this as soon as you possibly can. Small business owner saving this work for the weekend? See below and call me. I’d love to fix this and manage it for you.

Consider Financing Tools (Invoice Factoring, Pay Later for Clients)
Services like Fundbox or Stripe Capital can accelerate cash flow while maintaining client flexibility. Before you consider factoring, I highly suggest getting with me as we can eliminate that need. Some have to do it for cash purposes, but I normally work to get a client off of factoring. I’ve saved businesses hundreds of thousands in fees over 2 years…let me help you!

Contact me if you’d like to network or partner together. I’d love to chat with you more about the services I offer on the side through Guernsey Consulting. Some of those services are listed below.