Have you ever been in a situation where it takes forever to get a payment from a client? Between emailing back and forth, phone calls and checks in the mail, weeks could go by before you even see a penny. The solution to this is to implement better systems.
By implementing better systems into your business – particularly systems for getting paid – you can close deals and get paid much faster.
What are systems?
Systems are processes that you can repeat over and over again to get a result. Sometimes a system is a manual process while other times technology can take care of an entire process.
For the sake of payments, we’ll be discussing better systems you can implement with the use of online tools. The reality is there are plenty of options out there so you can get paid quickly and efficiently and nothing manual is required.
Seamless payment processing.
Better systems can help you make credit card processing easy. There’s a big difference between getting payment information over the phone and simply sending a link to a client.
The former can lead to security issues and make the process cumbersome. Meanwhile, the latter is safe and easy provided you use services with the proper security features.
Even if you do take payment information over the phone, you can still use the right payment processors to make the rest of the process easy. For example, I’m getting payment information over the phone for my group coaching program. Once I run the card, my system automatically sends a receipt and email with information on their next steps.
The next way in which better systems can help you make more money is by using automated services. We already gave one example of automation in the previous section, but the reality is you can also automate the entire payment process.
For example, if you send out invoices, you can use a service that automatically sends them out for you. The same services can also do automatic follow-ups on late payments so no one on your team needs to do it manually.
Another example is auto-billing. If you have clients that are on retainer, they can sign off on having their card charged automatically each month. This one automation is single-handedly solving my cash flow issues.
Sell multiple services and products.
The final piece on to how better systems can lead to more money is using systems to sell multiple services and products. Another way of looking at this is using a type of system called a sales funnel. When a potential customer moves through your funnel, there are multiple opportunities for them to purchase from you.
For example, you can have an upsell on the thank-you page for the opt-in you’re using to collect email addresses. This is what I do now and it’s increased my digital course sales.
For a really good primer on using systems and sales funnel to increase revenue, check out Russell Brunsun’s “Dot Com Secrets.”
The better systems you have, the more money you can make. Simply put, systems save you and your customers a lot of time so the exchange of value can happen quickly.