If timely invoicing is not a high priority in your company, you may be surviving, but you are not setting your company up to thrive. To ignore or minimize the importance of invoicing is like driving a car without putting gas into it and expecting to get somewhere.
This is a fundamental issue I see in many companies. From my experience, often owners tends to focus on:
- First, paying his/her employees
- Second, creating and delivering the product or service
- Third, _________
- Fifth or Sixth, invoicing clients
Invoices are the conduit for bringing cash into the company and without cash the company cannot survive. Converting your product into cash is the primary concern for any company.
This doesn’t always mean you have to do it as fast as possible – you just need to know how you can do it most efficiently and proceduralize the process so it’s never an after thought. Persistence and consistency are key.