Your Clients Are Also Responsible for Your Healthy Cash Flow - Here’s How - SquareDash
Roofing and restoration contractors can’t run a business on good vibes and strong sales alone.It’s important to keep a transparent framework regarding how and when clients should pay your invoice and to chase up missed or late payments right away.Matt Fruge, Founder and CEO of SquareDash, shares his perspective on how to gently encourage clients to keep up their end of the bargain.
There’s an understandable imperative for businesses to develop robust bonds and long-term relationships with their clients. Doing so is productive for your firm’s future health and makes running your business enjoyable. Roofing contractors work hard year-round, and a friendly face is the least you deserve.
That said, commercial roofing contractors can’t run a business on good vibes and fellow feeling.
For this reason, it’s important to keep a transparent framework regarding how and when clients should pay your invoice and to chase up missed or late payments as appropriate.
Matt Fruge, Founder and CEO of SquareDash, shares his perspective on how to gently encourage clients to keep up their end of the bargain:
Matt invites us to remember that contractors risk a great deal more than the client. Potentially, tens of thousands of dollars worth of materials and labor need to be paid, while a customer benefits from extensive repair work and a singular fee. If you’re transparent about your terms and the invoice or fee-paying structure ahead of time, you can make it clear how you expect the relationship to conclude for the benefit of both parties.
Matt underlines that you’re not offering a favor here; you’re here to do the best you possibly can for a homeowner in return for prompt payment. A homeowner’s property is increasing in value thanks to your restoration work, and you deserve compensation. This will help you avoid feeling like you’re asking too much or being rude when making the payment process clear from the offset.
Matt understands that homeowners use their insurance to cover payments, and many contractors are happy to work with those providers. But that doesn’t mean your business should suffer a lack of cash flow due to incorrectly processed claims or disputes on their end. Understand that payment is their responsibility; materials, supplies, safety, and labor are yours. Insurance doesn’t cover the responsibility of the homeowner to plan. That remains with them as a willing client.
Final Thoughts
Do you feel like slow insurance checks or the mortgage endorsement process is holding your cash hostage? It doesn’t have to be this way.
You can get paid as you’re doing work and as soon as the job is complete.
Ask us how. SquareDash’s claim funding process is the fastest possible way to get paid on claims and achieve healthy cash flow you need to grow!
For more detailed tips and insights from industry experts, visit the SquareDash blog