You’re growing your business fast, but do you have the necessary infrastructure to protect your high-growth business?
It’s exciting to receive funding, gain lots of traction, and feel like your money worries are a thing of the past. However, this article from Beauhurst demonstrates just why you shouldn’t adopt this attitude.
Beauhurst state that a reported 9 in 10 start-ups end up failing.
Let that sink in for a minute.
As we’ve seen from the above article, it can be easy to forget to look after the longevity of your business. The COVID-19 pandemic has taught us many lessons about caution and the importance of safeguarding your business for unexpected changes and events.
High-growth doesn’t necessarily mean a healthy business cashflow. You could bring on multitudes of new clients and customers, but that doesn’t always mean you’ll get paid on time. Unpaid invoices can drastically alter your cashflow position, meaning that it can be difficult to survive under mounting pressures.
That’s why it’s vital that you protect your high-growth business - to ensure that you’re prepared for the worst case scenario.
So, you might be wondering why a credit control software such as itsettled is the perfect answer for protecting high-growth businesses?
Firstly, it offers cashflow protection - and that’s vital for businesses that are growing quickly. As a fast scaling business, you may not have a fully fledged finance department - so outsourcing or using a piece of credit control software such as itsettled is often the best option for boosting your cashflow sustainably.
itsettled’s credit control software guarantees your future as a business. When you’re paid on time consistently, you’re in a better place to grow further and reinvest in your business. A steady cashflow stream is appealing to lenders and investors alike.
Are you interested in how itsettled can protect your businesses growth? Try out our Days Sales Outstanding calculator to see how much money we can inject into your business from unpaid invoices. If you want to discuss your results, you can book a free strategy call with our CEO Glen Morgan, a fellow of the Chartered Institute of Credit Management. Book your call here.
We can’t wait to work with you to ensure you’re still here in a year’s time.
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