Episode Details

On the weekend I was going through my notes folder and I noticed some dot points from an “invoicing” session I delivered maybe almost 5 years ago to this date. 

It definitely jumped out to me so I thought I would listen the trade gods and share all my thoughts in and around all things invoicing. 

So here’s a fresh take on one of my fave subjects! 

Enjoy the pod xx 

Mastering Invoicing: How to Make It the Best Part of Your Week

Join us as Crowey shares his raw, honest insights on how efficient invoicing is crucial for cash flow, business growth, and personal well-being. Learn practical tips and mindset shifts to transform invoicing from a burdensome task into a productive and even enjoyable process.

Key Topics:

• The core principle: If there's a problem with your invoice, there's a problem with your process
• Why invoicing is the most critical part of your business - cash flow equals survival
• Common pitfalls like getting behind and how to avoid them
• The importance of regular, consistent invoicing (preferably weekly)
• How to ensure your invoice matches the scope of work and the project notes
• The significance of early communication and addressing issues proactively
• Strategies for delegating invoicing tasks to save time and increase accuracy
• The emotional barriers around making money and how to overcome them
• The role of systems, checklists, and proper documentation in business health
• The 80-20 principle: focusing on invoicing and quoting to drive 80% of your business results

Timestamps:

00:00 - Introduction: Why invoicing doesn't take a holiday, even on your birthday

00:29 - The importance of sitting on what you do and the lesson from recurring notes

01:22 - Main takeaway: Problems with invoices reflect issues in your process

01:51 - The relationship between invoice accuracy and process integrity

02:44 - The reality of getting busy and the first things to go: invoicing and quoting

03:14 - The importance of timely invoicing to ensure cash flow

04:13 - Weekly invoicing: the cornerstone of financial discipline

05:03 - Diversifying work to safeguard against market fluctuations

06:27 - How market shifts (e.g., COVID, economic tightening) affect different sectors

07:25 - The significance of project diversity and resilience in business

08:51 - The story of a small job turning into a key client

09:49 - The importance of consistent invoicing and not letting small jobs slip through the cracks

10:37 - Stop making excuses: invoicing is the business’s bloodline

11:44 - The benefits of networking and building relationships (BNI experience)

12:09 - The consequences of not having enough work and how to stay proactive

13:07 - Playing the long game: the power of referrals and diversifying clients

14:22 - Be cautious of the “cult” of networking groups and focus on genuine relationships

15:52 - The role of a holistic business mindset and varying industry backgrounds

16:46 - Pricing systems: the benefits of cost-plus and wholesale rates

18:14 - The importance of confronting your emotional barriers around money and success

19:38 - Invoicing should be the most fun part of your week – shift your mindset

20:37 - Regular communication with clients about invoices can prevent issues

22:02 - Making invoicing straightforward and positive, not stressful

23:23 - The power of clarity and transparency: check invoices before sending

25:46 - Fault-finding in invoices like resolving electrical faults—apply similar logic

27:10 - Early intervention and communication to prevent invoice disputes

29:34 - In