Do Accounts Receivable cause your stress level to go up… and your business relationships to go down?
Accounts receivable can act like a cancer in business, in that, when they are out of control:
It affects the physical well-being of management. Stress levels start to increase to unacceptable levels. This in turn negatively affects management’s overall attitude towards business in general. This is sensed by the staff and can raise their stress level as “uncertainty” settles in as to what’s really going on. In turn, this is sensed by the customer/clients and “indifference” may be perceived, which can cause the person to seek an alternative shop. This affects the profitability of the shop, which creates a situation where management can’t pay themselves a professional income, and in the end, home life is affected because the owner is not happy with the business, which dramatically affects his/her personal family relationships.
Are you in this rut? This cycle should be unacceptable. It’s time to have the surgery, get rid of the cancer, and change!! It’s time for management to earn his/her pay cheque and attack this terrible disease creating this disturbing problem.
Change is never easy in business, but change is no longer an option. Our industry is rapidly changing and so must every shop operator within the industry; our future depends on it.
“WHO WE ARE TODAY IS THE RESULT OF YESTERDAY’S CHOICES. WHO WE WILL BE TOMORROW IS THE RESULT OF TODAY’S DECISIONS.”
It’s time to make 2017 a more profitable, less stressful year. It’s time to take responsibility; get focused on the customer’s/client’s needs and do an outstanding job in that area instead of having to study his/her payment habits. The time to move the business forward is now. The time for business change is now. Take the initial step and seriously consider it!!!
If you need any help, the Independent sector is our specialty. Contact me by e-mail: [email protected]