584: Getting Paid on Past Due Invoices
The BizChix Podcast: Female Entrepreneurs | Women Small Business | Biz Chix
Natalie Eckdahl
4.8 • 630 Ratings
🗓️ 13 July 2023
⏱️ 19 minutes
🧾️ Download transcript
Summary
Do you have past due, unpaid invoices in your business? Invoices in which the deadline for the client to pay has come and gone?
As micro-business owners, not getting paid — even on just one invoice — can be a huge impediment to your business’s cash flow. And it can easily create a ripple effect throughout your business, and maybe even into your personal life.
As CEO, your top priority is (and should be) cash flow.
So — what can you do to get those invoices paid?
Today I’m joined by $ix Figures Lab Coach, Elizabeth Cook, as we dive into the mindset blocks and boundaries involved in getting paid, the tactics and steps you can use to get those unpaid invoices paid, and how to prevent it from happening in the future.
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This episode was first published at BizChix.com/584.
Transcript
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| 0:00.0 | Elizabeth, I'm excited about this topic. You know it's one of my favorites. Yes, absolutely. I'm |
| 0:08.1 | excited too. We're talking about overdue invoices. Before we get started, can I just tell you something |
| 0:13.6 | I'm excited about this morning? Please share. While we're doing this, my friend who started an |
| 0:20.0 | organizing business and I'm supporting her is organizing at my house |
| 0:24.0 | while I'm at my office outside the home talking to you. That's fabulous. I'm so excited. She and I |
| 0:30.6 | have been chatting about things I need help with and things she needs help with and we're not bartering, |
| 0:36.0 | but it was so cute because I'm actually |
| 0:37.7 | her first paying client. She's done a lot of this work before for like her home, her parents home, |
| 0:44.7 | family friends homes, like, and she's done a lot of this type of work. But she hasn't really like |
| 0:50.0 | asked someone to pay her. So it was so great. She's like, could I practice with you? I'm like, |
| 0:54.0 | oh yeah, you pick the right person to practice with. And so we role played a little bit and we talked |
| 0:59.1 | about even how she could create, because she's currently charging hourly, which I was like, |
| 1:03.2 | let's start off that way, but how she could create like a package because she also took my |
| 1:07.5 | donations away. She came on Friday and we did some session together and then |
| 1:12.1 | we figured out what she could do without me. Yeah. So we even talked about I said, well, you should |
| 1:16.6 | create this as a package and say it includes a carload of donations being removed from your home. |
| 1:21.5 | Because that is a thing. Yeah, absolutely. So it was so fun. We and anyway, I can't wait to go home |
| 1:27.0 | because she's asked me if she could |
| 1:28.2 | stay a little longer because she found an additional project she could do I'm like yes you can |
| 1:32.4 | but I will owe you more money so we'll figure that out because I left her a check so anyhow so |
| 1:37.4 | how did she do in her first conversation practicing pitching for the sale yeah well we had already |
| 1:43.3 | agreed that so she has a three-hour |
... |
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