Invoice Discounting Quotes

■ Poor labor efficiency due to lack of job costing ■ Sales team focus on revenue rather than margin (discounting quotes, making concessions, and so on) ■ A lack of emphasis on service sales (rather than product sales), which were generally more profitable ■ Excessive punch list items requiring follow-up work without the ability to invoice ■ Errors in order entry: finish, fabric, pricing, and so on ■ Installation damage and concealed damage on receipt of product ■ Excessive nonbillable overtime ■ High average collection days ■ Small-tool loss and damage

My first one is All Money Ain’t Good Money,” Ms. Greene said to the group, nodding her head. “This is so true. Our community is notorious for wanting a hook up and not paying their outstanding invoices. Like you said, discounts are great, if offered,” she paused. “But they shouldn’t be expected because I’m black and you’re black. It’s very frustrating when our customers say that our prices are too high, then go to non-black businesses and pay the same, if not more…

Your target market is the customers who buy quickly, rarely ask for discounts and tell their friends about your offerings. For businesses, big-picture characteristics include things like industry, location and company size, but those are rarely enough to identify a customer who is a great fit for your product. You might sell a solution for small business that greatly reduces the time and complexity of invoicing. Any small business could use your product, but the ones that send a significant number of invoices every month will love you the most.

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).

Owing to the ever-increasing pressure on space, as retailers continue to extend private label ranges, there is a risk of branded products being moved to less-optimal locations, having fewer promotional slots and facings or being delisted. Manufacturers cannot wait for this to happen before reacting; they must be proactive in making the case for their brands. While the absolute cash and margins on private labels may be higher for the retailer, the manufacturer has to shift the focus to total system profitability. Many factors favour manufacturer brands when total profitability is considered, including: Sales velocity: Shelfspace turnover is often higher for manufacturer brands. The velocity of leading manufacturer brands is often 10% higher. Profit per linear inch of shelfspace. Discounts and off-invoice allowances: Includes slotting allowances, listing fees, promotional deals, advertising and merchandising allowances, and credit for return of unsold merchandise. Promotional and advertising fees. Provision of ‘free’ logistics services: Includes transportation, warehouse and store labour, and merchandising help for the retailer. Manufacturer brands usually retail at higher-than-average prices: Even when the net margin on manufacturer brands is lower, the absolute cash profit per unit may be higher.