Overheard my accountant say 'cash flow is king' and it finally clicked

I used to think profit was the only thing that mattered in my landscaping business. But last week, my accountant was on the phone with another client and said 'cash flow is king, profit is just a scoreboard.' That hit me different. I realized I had $15k in unpaid invoices sitting there while I was stressing about a $2k equipment repair. Now I'm offering a 5% discount for clients who pay within 10 days instead of net 30. Already got 3 people to pay early this week. Has anyone else found a trick to speed up invoice payments without losing customers?

2 comments

2 Comments

the_wesley22d agoMost Upvoted

Jumped on that 5% discount trick too, now I'm just worried my clients will think I'm desperate enough to take a 10% off offer if they wait long enough.

alex52422d ago

Flip that worry around and see it as a signal instead. If a client thinks you'll drop your price by waiting, that means they're already convinced your service has value they just want to lowball you on. A 5% discount actually filters out the tire-kickers and keeps your price integrity INTACT for serious buyers.