I saw a medical specialist 7 months ago. Three weeks after my visit, I received an insurance company statement indicating what was covered and what I should expect to be billed for. Two months later, when I had not received a bill from the doctor, I called his office and was told they could not find the paperwork from the insurer. I emailed it to them. Three months later, I called again to explain I still had not received a bill. They told me they were running behind on getting billing out. It’s now seven months and still no bill!
This crazy episode has caused me to start asking my CEO clients: “What are the soft spots in your business processes?”
- Do you consistently get your invoices out? Consistently follow up with overdue accounts? Consistently pay your bills on time?
- Do you consistently respond to inquiries about your products and services? Consistently follow up on those proposals?
- Do you consistently provide feedback to your employees? Consistently respond to proposals requested from vendors? Consistently inform your banker of your financial condition?
Lack of consistency is a soft spot. Is it time for some toning up in your business?