Transcript excerpt discussing pain points of billing and cash flow when serving clients with varied accounting procedures, and advocating for recurring billing/retainers as a solution. Speakers describe the operational simplicity and revenue predictability of moving clients onto monthly retainers, sharing an example of a 6-month, $5k/month retainer that relieved billing headaches.
Yeah. And one of you just triggered one of the biggest pain points that I think I had before, which is another reason I'm like, something needs to change is the billing. Right. So when you're working with these big corporate companies and some local service businesses and mid sized businesses, all of them have different accounting procedures. So it's like some might need wire transfer, some are going to be net 30 or net 60, and some you're going to have credit card information for. So we were chasing invoices, we had cash flow issues. I was banging my head against the wall so long like trying to figure out how we can fix it. And I think with, once you have an offer that people are coming to you for the value that you're offering, they're not looking at other competitors. It's a lot easier to charge recurring billing and justify it without having to worry about all that stuff.
Yeah, exactly. Because it's just, I mean if you wanted to get to a certain revenue, it's just multiply that many monthly clients by that much. You put them on a recurring billing system.
Yeah.
Build every month. It's simple. It's like, because when you get to the point where you're, you have that many clients, it is really, really difficult. If there's one tiny piece of complexity at tiny scale, it becomes huge when you blow up. And I've learned that the hard way too.
Yeah. And I just, I had a smile on my face when we closed the first like 6 month, 5k per month retainer through this offer because I just knew I'm not going to have to worry about the billing. Like funds are hitting our account every month and I'm like, this is what the direction that we need to keep going in.
