Make sure you get paid on time
Top tips on how to make payment processes much more efficient...
The summer is over. Four words everyone hates to hear. For many it'll mean back to work; back to school, or in your case, back to business. Whether you have taken time off to go travelling, or things have gotten quiet in the summer months, it’s now September - so it’s time to get back on top of things.
The break is over now the hard work starts again. There is no need to feel nervous, you should be excited about the possibilities September can bring. But sometimes flicking the switch from holiday to work mode can be tricky - which is totally understandable. But don’t sweat. Once again Payzone are here to dispense some of our wisdom, so that you can get back to work pronto and feel great at the same time.
It’s important to give yourself a reminder of why you are doing what you are doing. After substantial time off, motivating yourself is key and nothing works quite like reinforcing your business goals. Literally, take a pad of paper and a pen and just start writing down these crucial things. To get you started in this activity we recommend asking yourself:
The list of what you could ask yourself is endless. This is a really good way to rejig your mindset and you'll be thinking more about aligning your business goals in no time at all.
When you're going about ‘business as usual’, it’s easy to stay in your comfort zone and develop a bit of a pattern. Now that you have spent time away from the daily grind perhaps it’s worth considering delivering a shock factor. Think about ways that you could delight and surprise your customers. Compare this to say working out in the gym. When working out, one way to make your routine a bit more fun is by changing things up. For example, you might sprint for 30 seconds or increase the weight you are lifting. Apply this thinking to the way you engage with your customers. Email an audience segment with an exclusive offer for your brand new product during the first week of September. They won’t expect this, which will make it even more effective. If your business doesn’t have a website then get creative outdoors. If you run a hairdresser and it’s back to school week, why not offer 50% off on childrens haircuts. This is another way to delight and surprise, at a time when mothers are busy getting ready for back to school week.
It’s easy to forget that when you’re running your own business much of your time will be spent chasing leads, creating connections or attending networking events. Now that you are back at work, it's time to start playing ‘the game’ again. First things first, log into your work email - we know it’s a bit daunting after a few weeks but it won’t bite. This is a good chance to see where you are at with certain people. If there are requests that you need to respond to make sure that you do. Were you in the middle of a conversation with an interested party before you went away? Make sure that you get this started up again. Are there some local networking events that were on a break in the summer but are starting up again in September? If so get yourself and your business cards ready for plenty of chit chat and some casual pitching - it’s not everyone's cup of tea but it could land you some new business.
Ah the dreaded late payment scenario. We cannot tell you how often we hear stories of small businesses struggling with their cash flow because a supplier is (putting it lightly) “taking their time” to pay you. If you went away and are still awaiting payment now is the time to chase. Send a polite reminder email that the balance of your invoice has yet to be paid. If that doesn’t work you could call them to show them that you are alive, well and waiting payment. Start September with money in the bank and not at the mercy of late payers.
Ready to get back into the swing of things? At Payzone, we're dedicated to supporting independent businesses grow with our card payment solutions. No setup fees and a short 12 month contract available, get a free quote today.