Open the envelope or pay the price?
The post arrives and you see one of those envelopes that could be junk mail, something from HMRC or a bill from a supplier. It’s not one that you may choose to open ahead of dealing with a customer’s enquiry or another sale so you put it on a pile at the side of your desk.
When you’re running a business it’s easy to forget that growing pile of envelopes on the side of the desk as you add to it each day whilst you spend time with clients work.
Be careful as something in that pile maybe a time bomb just waiting until a deadline to respond passes when swingeing fines or additional charges are added to the original request.
Additionally that original request may have been incorrect and leaving it without taking action to correct it may cause more problems as you have given the impression to the sender that it’s all ok not having challenged it sooner.
Cashflow in a business is key and leaving these envelopes that appear innocent but could have a caustic affect on your finances is a dangerous choice.
A better approach is to adopt a simple process:
- Open the envelope
- Decide if it needs action, can wait, or can be binned.
- If it needs action then take it straight away or pass it to one of your professional suppliers to act on your behalf.
- If it can wait, then note in your diary a time to deal with it and make sure you do.
- If it can be binned (as it’s not important or relevant) then bin it.
This simple quick action could save you money and time in the long run, so will you open the envelope or pay the price?
