Mike AndesFounder, Augusta Lawn Care and Homeworks · Founder of Homeworks and Augusta Lawn Care

Your Customers Are Stealing From You... And You’re Letting Them

21 Dec 2024 · 0 min

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0:22

Mike Andes explains how overdue invoices drain your profit. One company had $80,000 tied up in unpaid bills against $400,000 annual revenue, leaving no cash to operate. When you let customers pay in 30, 60, or 90 days, you're giving them an interest-free loan.

Questions this video answers

$80,000

$400,000

30, 60, 90 days

That's annoying as hell. Why are you making me work to get my money? This business owner had $80,000 of overdue invoices, and his business made $400,000 in annual revenue. So basically, all his profit was just sitting on the books. If you have an overdue invoice, you're giving a free loan to your customers. 30, 60, 90 days. You have now become the bank. You make no interest, you make no fees, and you're essentially begging people to give you the money you've already earned.