[Archer]

I am wondering if anyone has had a business that is growing to quickly,

just wondered if you feel like banging your head in a brick wall, never seem to have any money and obviously worrying about cash flow.

[stfc]

been there done that,get easier after a while

[Archer]

how did it make you feel, and what problems did you have

[darren clarke]

i had a plumbing business that grew to quickly,  ended up employing 6 and chasing money all the time,  if u can get the money quick it is great but, if not worst thing in the world,  am taking time with the wc business as dont want to mess this up

[Rob_Mac]

I had that Chris, with my window cleaning business. When we spoke at Fallowfields, three years ago now, that was exactly where I was.

I sold my round and life seemed to be easier. The money improved but cashflow is still an issue. So I am back to building a residential round, to help with cashflow but then I have now hit the vicious cycle of never having any time again.

Ians way seems to be the way to move forward. I am never at home anymore and my wife is the most important thing in my life. I have promised her i will turn it round by the end of this year - and I will!!!

I have some dealings with Business Link and have recently asked them to put me in touch with a business mentor, to help me grow my business healthily and so that I can balance all of the balls I am juggling.

Give them a call. If you want to chat 07919 425664

Rob

[newbroom]

Alot of small businesses fail when they grow quickly not due to the the business owners enthusiam, drive, or even the growth itself. More likely that the business is not set up to run without the owner being central to the business operating in a steady manner.

For a business to grow & prosper, systems should be in place to accomodate new business. It should also run without the business owner, too many work in their business and not on it. Look at your invoicing, payment terms etc, chase all outstanding debt vigorously. Look after the customers you already have it good getting new business but don't lose sight of what you already have.

[formb]

I have found the most difficult thing with this job is saying NO.

If you've got plenty to do, don't be afraid to say no when someone asks you to do their windows.

It would probably be a good idea to build up a relationship with other local window cleaners. They may be struggling to find work, that way you will have someone to help you out if you have too much on.

[Small but perfectley formed]

sub,itout

[Moderator David@stives]

Archer

I was and I am still in the position of rapid growth, just put the 4th van on the road, and the work is flying in, most of my days is taken up with quoting.

we dont have a cashflow problem, the bank account is quite healthy.

To improve cash flow i would

1, Invoice the same day you clean, if they havent got the invoice they arent going to pay, if it is a 30 day invoice, that is 30 days upon receipt.
2, Phone the slow payers and ask if they can speed things up
3, give the client easier ways to pay, put paypal on your site, bank details on your invoice etc. maybe get a card reader so you can say on the phone, "can i take a payment"
4, explain your cashflow to the client.
5, Get an arranged overdraft, affordable credit isn't a bad thing.
6, sell your season ticket,              joking
7, Sub some work out to trusted partners, then ask them to wait for payment.
8, Lease back your vans to release some equity, there are some specialist firms who do this.
9, pay your staff monthly.

I will add to this later, got to go

Dave

[jefftemperley]

you can look at factoring invoices if you have enough turnover to warrant the fees

[Sean Dyer]

I have found the most difficult thing with this job is saying NO.

If you've got plenty to do, don't be afraid to say no when someone asks you to do their windows.

It would probably be a good idea to build up a relationship with other local window cleaners. They may be struggling to find work, that way you will have someone to help you out if you have too much on.

Id imagine its mainly commercial that is the problem, taking on big jobs, not 3 bed semis

And i wouldnt wanna be handing away commercial contracts so i understand his problem, just wish i had it lol

[Sean Dyer]

you can look at factoring invoices if you have enough turnover to warrant the fees

I think they are a rip off, and they arent always as fast as they should be, plus you are handing away profit

A firm i worked for used a very well known international one and they held on to his money for as long as the companies he was struggling with in the first place

[bluez]

I am in exactly that position Archer, I have just put a 5th van on the road. This week I have 15 wages to pay and I am chasing my tail. I have a brilliant client list that I desperately dont want to let down and The only time I feel in control is when there is a bank holiday as I get an extra day to prepare all the schedules and runs in advance.

I dont have any answers but I am fairly sure that newbrooms post is probably a fair assesment of where I need to be moving.

[newbroom]

Hi Bluez,

I have only recently opened my eyes to working smarter, i have currently got funding for 3 months to have a business consultant help me organise my business, i never had so much homework (didn't do it at school) but i can see the rewards i will be reaping.