In his book, “How To Be a Fierce Competitor,” Jeffrey Fox emphasizes the fact that your employees are not your most important asset. That role goes to your customers. They are the ones who pay the bills, keep your company afloat and generate those profits.
And they are the ones you can turn to when you need cash quick and you need to turn to an accounts receivables factoring company.
After all, people make things happen at a business. If they are not excited, not motivated, not educated and not enthusiastic about being there, how do you think that is going to impact your operations, your sales, and your customer service?
Not very well.
You either have to have a great location or a product/service that everybody needs desperately or a competitor that is worse, for you to stay in business.
And as the old maxim goes, right now there is somebody out there working to create a better mousetrap and take market share away from you. Mediocrity can only survive for so long.
So, yes, you need to find, hire and nurture great employees.
But once you do that, you had better focus on those customers. Because if you have crummy customers who don’t pay you on time (or for that matter, pay you at all), even with the best staff, you are not going to go far.
When you have great customers – customers who pay you, who stick around, who tells their colleagues about your product or service, you are creating a great asset.
That asset can come in handy when you need money quickly. Money to cover payroll, money to cover an unexpected expense, money to help you expand.
Because if you have quality, paying customers, you can tap into that resource with an accounts receivables factoring company who will provide funds to you in a short period of time. Quicker than a bank or other traditional sources of funds.
Quality customers mean quality receivables. That’s a gold mine for you. It’s a fantastic safety net.
Bottom line – it’s a tremendous asset you can turn to in need.