Cash is King

A Dollar is a Dollar, A Dime is a Dime.

For many people in work, the end of the month signals pay day. For the most part it is a regular occurrence, one many folk come to rely on. For better or for worse, it’s an essential ingredient to keep the ball of life rolling. Imagine the uproar if you regularly had to chase your employer for your wages? Money makes the world go around. Cash is King.

When you run your own business – one of the things you have to get used to, is that pay day…kinda vanishes. You have to get used to getting paid after the company gets paid, and quite right too. So prompt payment matters.

A couple of years ago, I had to wait over four months for a substantial invoice to be settled. The delay seemed designed into the process, despite both parties having previously agreed payment terms of 30 days. Fortunately we manage our business with care but too many delays like this spells trouble. Money makes the world go around. Cash is King

At What Goes Around we don’t have a policy, or terms of settlement for invoices we receive. We simply pay them as soon as possible after arrival, usually within 24 hours of receipt. From my experience, this is not uncommon among employee owned and smaller businesses. Money makes the world go around. Cash is King.

Lots of businesses talk a lot about Corporate Social Responsibility, and I think paying your bills promptly is a key part of being a responsible business. If your company delays payment to your suppliers, I wonder how that fits with your company values?

A Little Enthusiasm…

…goes a long way.

I love my work, and as a result, I love getting paid. And today the boot is on the other foot, I’m paying bills and stuff this morning. I told you this gig was pure rock n roll huh.

A lot of these transactions have been over the phone. I say transactions quite deliberately because in the main, my approaches to the companies and people I owe money have been met with a lack of interest, a sense of…emptiness.

I’m phoning – to pay you money. You aren’t having to chase me, I believe in what goes around comes around and I’m a full member of the pay it quick club. I don’t expect you to let of fireworks and call a public holiday just because some guy has chosen to pay promptly – but a vague hint of life from the other end of the phone would go a long way.

A notable exception is my local bike shop who today have most cheerily accepted the money I owe them for repairs and servicing on my mountain bike. I like that.

To the rest of the miseries I spoke to – have a nice day. Nahh, I’m kidding, if taking my money is that dull and lifeless, go and get another job.

photo credit