Small Growing Professional Business; A business case study supplement to Maintenance for Your Most Powerful Relationships (Inside Strategic Relations, 15 February 2004). For reasons of confidentiality, client name was omitted.
Background: You are the owner of a small growing company, where you both serving customers and managing operations. You divide your time between revenue producing activities, promoting your business, and accounts receivable.
Challenge: Slow invoicing hampers your ability to collect revenues, which in turn limits promotions and your company's ability to grow. Each time you stop to address promotion and accounts receivable, your moneymaking accounts feel neglected. These conflicts cause large fluctuations in cash flow.
Solution: Delegate your customer relationships to another professional who frees up time to spend on processing accounts receivable and keeping billing consistent. Use a percentage of revenue collected to promote the business and expand the work force so you spend fewer hours in direct billable work.
Results: Accounts receivable activities are more consistent, while you gain a better understanding of management issues. Eventually you replace yourself in areas of accounts receivable, spending more time in management and customer service.
/ relationship-realms | applying-strategy /