Christmas and New Year are almost here. This is such an expensive time of year and I’m sharing five simple tips to help boost your cash over the next month, leaving you to enjoy the festivities! Why not set aside one hour today and make a real difference to your bank balance.
- Invoice today for all work done to date. Do not wait until you have finished work – do it now! You will be in with a good chance of being paid before the end of the year.
- Make sure your invoices show the correct details, including your bank details. Email invoices (do not post) to the person who will be authorising payment and also a copy to the accounts department.
- Review your debtors list and check your bank account. Whose payments are overdue? Pick up the phone and make contact immediately. You will find that most accounts departments like to clear their desks and bring everything up to date before the Christmas break. They will be happy to help process your invoice and payment promptly.
- When was the last time you reviewed regular costs? Are there any recurring monthly, quarterly or annual costs for subscriptions or services that you no longer use or need? Cancel these immediately. Make diary notes for next year to review costs of services you are still using the month before they become due, giving you time to shop around.
- Review your fees – be confident to charge what you are worth. You probably have different fees for different services. Are all of your services profitable or do you need to make changes? Focus on the most profitable work. Thinking about these things now will help when you come to set your targets and prepare your budget for next year.
Contact me if you’d like some help to boost your profits and cash, at email@example.com – I will be delighted to help.