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There are a number of things a woman can tell about a man who is roughly twenty-nine years old, sitting in the cab of a pickup truck at 3:37 in the afternoon on a weekday, facing the Pacific, writing furiously on the back of pink invoice slips. Such a man may or may not be employed, but regardless, there is mystery there. If this man is with a dog, then that's good, because it means he's capable of forming relationships. But if the dog is a male dog, that's probably a bad sign, because it means the guy is likely a dog, too. A girl dog is much better, but if the guy is over thirty, any kind of dog is a bad sign regardless, because it means he's stopped trusting humans altogether. In general, if nothing else, guys my age with dogs are going to be work. Then there's stubble: stubble indicates a possible drinker, but if he's driving a van or a pickup truck, he hasn't hit bottom yet, so watch out, honey. A guy writing something on a clipboard while facing the ocean at 3:37 P.M. may be writing poetry, or he may be writing a letter begging someone for forgiveness. But if he's writing real words, not just a job estimate or something business-y, then more likely than not this guy has something emotional going on, which could mean he has a soul.

Marketing is not a department Do you have a marketing department? If not, good. If you do, don’t think these are the only people responsible for marketing. Accounting is a department. Marketing isn’t. Marketing is something everyone in your company is doing 24/7/365. Just as you cannot not communicate, you cannot not market: Every time you answer the phone, it’s marketing. Every time you send an e-mail, it’s marketing. Every time someone uses your product, it’s marketing. Every word you write on your Web site is marketing. If you build software, every error message is marketing. If you’re in the restaurant business, the after-dinner mint is marketing. If you’re in the retail business, the checkout counter is marketing. If you’re in a service business, your invoice is marketing. Recognize that all of these little things are more important than choosing which piece of swag to throw into a conference goodie bag. Marketing isn’t just a few individual events. It’s the sum total of everything you do.

Release your sense of shame, embarrassment or hesitation for doing business, asking for money, writing invoices, demanding payment on one side, and for giving, granting, paying, spending on the other side.

Why you do such a thing?” Ito demanded. “Because I think Blue Ribbon could be great success,” Sumeragi said, “maybe $20 million account. I shake hands many times with Mr. Steve Prefontaine. I shake hands with Mr. Bill Bowerman. I go many times to Trail Blazer game with Mr. Phil Knight. I even pack orders at warehouse. Nike is my business child. Always it is nice to see one’s business child grow.” “So then,” Ito said, “you hide invoices because . . . you . . . like these men?” Deeply ashamed, Sumeragi bowed his head. “Hai,” he said. “Hai.

The tricky thing is that “until” often wears a cloak of responsibility. It pretends that it’s not about being lazy but rather about making sure everything is in order before you start. It would be foolish to come up with a great invoice system until I really know what my business is about. Once I have a core mission, the rest of the pieces will fall into place, but until then, it would be wasted effort.

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Dark Edges PI was the heading on all the invoices and business cards, but that was strictly to cover my ass so I was never questioned on exactly what I did.

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Building a business is a creative act. Few of us realize when we start out that we are creating not only a company but a culture. That’s because it’s usually not planned. It just happens. While everyone is focused on something else, making sales, providing service, sending out invoices, a little community springs up. It has its own unspoken customs, traditions, modes of dress and speech, and rules of behavior. By the time you become aware of it, the culture is often well established and it will probably be a reflection of your personality.

Ctrl-I     Create invoice →       Ctrl-E     Edit transaction selected in register →       Ctrl-F     Find transaction →       Ctrl-J     Open Customer Center →       Ctrl-M     Memorize transaction or report →       Ctrl-N     New invoice, bill, check, or list item in context →       Ctrl-Q     QuickReport on transaction or list item →       Ctrl-T     Open memorized transaction list →       Ctrl-W     Write new check →       Ctrl (while opening)

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Write the benefit directly on the invoice above the price you’re asking them to pay.

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Before further developing this idea of the two paths (innate confidence or bumping into opportunity), I want to pause and explain more fully what I mean by “not believing in the value of your work.” Some of you probably read that but don’t see yourself on that path when in fact you are. You feel like you have confidence in how you value your work, but the evidence doesn’t support it. There are certain business practices that stand as clear evidence of that lack of belief: Discounting your fees. Modifying your terms. Allowing unusual invoicing procedures. Providing advice before an engagement is crafted. Letting clients determine the problem while just looking to you for transactional solutions. Presenting multiple equally viable solutions and letting clients choose, ceding your expertise. Changing your positioning to fit what prospects want to hear (in presentations and proposals). The list above is truly “business as usual” for experts who see themselves in the service business, but it doesn’t have to be that way. While most follow that path (the ones who try to rub shoulders with more opportunity), some do not (the ones who have a strong innate belief in the value of what they do).

Credit extension, invoicing policy, payable policy, dealing with customers, and negotiating with suppliers, banks, and internal staff are all management disciplines that have a direct impact on the cash cycle.

However you set up your business, you’ll need a way to keep track of your accounts. There are many options for this; I use an online platform called FreeAgent. One of its best features is automatic invoice chasing: once an invoice is overdue, the system sends regular reminders until it’s paid.

Movement - Success of your business depends on your speed of movement in all areas - clients, invoices, accounting, content, marketing, ideas, website, etc.

I said that it was critical that the incumbent supplier recognize that there was competition and that other suppliers could do the work. Once the RFP was sent, the company noticed that the incumbent supplier's behavior improved dramatically. The supplier was on time with deliverables, their work was better than before, and they were much more responsive than in the past. My client was delighted, thanked me for my work, and asked me to send them my invoice. I stressed to them that we were not finished, though. They were surprised and reiterated that their incumbent supplier was now “behaving,” and they were so happy that they had done the RFP. I repeated that we were not finished yet and added, “You have to cut off a thumb.” They replied, “What thumb? We do not want to cut off a thumb.” I explained that we had to award some piece of business to someone else; if we gave all of the business back to the incumbent, we would only reinforce their perception that my client had no other alternatives.

Some areas of opportunity: •   First, stop saying, “Well, this is just the way it is in our industry.” •   Have your available cash reported DAILY, with a short explanation of why it changed in the last 24 hours, and chart it against accounts receivable (AR) and accounts payable (AP) weekly. You’ll learn so much more about your business when you see how the cash is flowing on a daily basis. •   If you want to be paid sooner, ask. Small firms are finding that large companies (and governments!!) will pay considerably faster or even prepay if they simply ask, ask, ask, ask, and ask some more. •   Give value back to customers who pay on time or in advance. •   Get your invoices out more quickly. Hire one more person in accounting to do nothing but make sure invoicing is timely and follow up on payments. •   Send friendly reminders five days before the deadline that payments are due. Many customers are disorganized and will appreciate the reminders, resulting in faster payment. •   If invoices are recurring, obtain recurring credit card authorization from your customers to automate on-time payments. •   Understand why your clients are paying late. They might be unhappy with your product or service. Or perhaps an invoice has recurring mistakes, or it is not structured to flow through the customer’s automated invoicing system. •   Understand each customer’s payment cycles, and time your billings to coincide. •   Pay many of your own expenses with a credit card so you can play the float. Get your own customers to pay by credit card, so they can pay you quickly even if their cash flow is slow. •   Help your customers improve their cash flow so they can pay you on time. Offer them leasing options, for instance. •   Shorten cycles for delivery of your product or service. All of you have some kind of “work in progress.” The faster you complete projects, the faster you get paid. •   Offer a product or service so valuable that you have some leverage with your customers to get them to pay sooner. • Remember, improving margins and profit improves cash.

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