You never imagined you would see the day you would need to begin using electronic billing.
Using the term start up company was a stretch for what you and your friend were doing. You did not think of your friend as a business partner, you simply introduced her as your good friend who used to teach across the hall from you. Three years later, however, you find yourself needing to find a third person to join your service or making the decision to have to turn some clients away. This situation, the one where you are looking at an electronic billing service and finding another employee, seemed completely impossible three years ago.
What to Do When Small Businesses Become Big Businesses Overnight
The two former English teachers had a simple plan. They would help high school students with college scholarship essays. Offering their expertise in a skill they had been teaching in their classrooms for years made good sense. Fielding several phone calls from families who were disappointed that their son or daughter would not get to be in your classrooms, you first helped a select few with their scholarship pursuits. As word of your success, however, traveled, you found yourself with a nearly steady stream of customers. The two person approach that you used helped students quickly narrow in a powerful topic that could create a passionate piece of writing that was unique from anyone else’s.
The fact that you were getting paid to simply teach the finer points of what you had been teaching in your classrooms for those many years was amusing.
The amusement was threatened, however, when you began to realize that you could no longer handle the paperwork that was involved in the essay writing service. Meeting for coffee and hand writing thank you’s for your clients as you sent them receipts for their payments had been a fun part of the initial process. These days, however, the thank you’s have gone by the wayside as you simply attempt to manage the individual payments that students are making. The two of you are English and journalism teachers. You have never had any interest in accounting, and yet you find yourself stressing over the accurate recording and prompt response of receipts for your growing customer base.
The decision to add another person to your team seems risky. You both want to have your eyes on the papers that your clients are producing. Finding someone else to manage the electronic billing seems like a better decision.
Electronic Billing Services Help Small Businesses Manage Their Bookkeeping
Needing help with electronic invoice processing is a problem that successful and growing businesses have. Understanding the need to focus on what you do best is reason enough to decide to outsource billing services. Letting someone else complete the paperwork while you focus on the skills that serve your customers is a wise business decision.
In addition to allowing you to do what you do best, electronic billing has many other benefits as well. For example, outsourcing your billing can help you speed up receiving payments by one to three days, as well as improve cash flow. Additionally, outsourcing billing services can reduce personnel costs, while at the same time redirect personnel resources to your essential activities. Billing services companies can also help small businesses eliminate expenditures for equipment, maintenance, toner, and postage meter ink.
And while electronic billing services provides many benefits to the business owner, customers can also benefit as well. In fact, these services can reduce customer frustration, questions, and phone calls. Although many small business owners may initially see a service like electronic billing as something that it too impersonal, it can actually lead to more personal service to your customers when you let someone else take care of the paper work.
Statistically, the chance of turning a small business idea into a successful venture is pretty slim. Everyday businesses that are great ideas fail. If you are one of the fortunate few who find success with your small business idea, you may also find yourself looking for ways to manage that success. Electronic billing is one option that makes sense for small businesses who become big in a hurry.