How to More Quickly Attract Money to Your Business

April 19th 2024

“Money loves speed.” 

Have you heard that adage? The saying is fairly popular in the online business community, but it applies to any type of business.

Think about your experiences with money. Is it more likely to show up when you sit back, do nothing, and wait for it to land in your lap, or when you go out and track it down?

You attract money when you do something — when you take action, and especially when you move quickly. 

So what can you do to pick up the pace at which money flows into your business? Several things, actually.

Invoice immediately

As soon as you complete a project, ship an order, or deliver a product, ask to be paid. 

Typically that means sending an invoice, which is fine, but issue that invoice as soon as your customer owes you the money and not a moment later. Because every hour or day you wait to ask to be paid, the longer it will take for your check to be issued and for you to receive your check.

Connect with prospects regularly

Taking action in business can mean many things, but business begins when a customer or client agrees to pay you for your products or services. Before money can change hands, you need to convince someone that what you’re selling is worth what you’re charging. And the best way to do that is to regularly market your company — to get in front of people who are likely to want to buy. 

Depending on your business, that might involve a direct mail campaign, outreach on LinkedIn, cold calling, attending trade shows, participating in conferences, joining networking groups, buying advertising, or pursuing publicity, to name a few strategies. But do something each and every day to take action toward winning another customer. Because each marketing tactic gets you one step closer to your next sale. It gets you closer to more money.

Follow up with potential customers promptly

When you identify someone who may be interested in doing business with you, get in touch right away. If you’re given a prospect’s name by a friend, call or email them immediately. Don’t wait. Or if someone emails you to ask for more information, send it right away, before doing anything else. 

The quicker you provide the information they need, the closer you get to making your next sale and depositing that money in your account. So don’t delay.

Start client work ASAP

As soon as a customer has paid a deposit or signed a contract officially hiring you to do some work for them, start working. Whether you have a day, a week, or a year to complete the work, get started now. Because the sooner you get that work done, the sooner you can bill for it and get more money in your account. 

When you have the opportunity to earn more money, don’t delay in starting work. The faster you get that work done, the sooner your schedule will be free to take on more work. I’m not suggesting that you lower your quality standards in order to complete the tasks sooner, only that you shouldn’t put off doing the work.

Pay your bills immediately

Invoicing fast will get you paid faster, but money likes to be in circulation. So as soon as you receive a bill, pay it. Get that money back into circulation. 

By paying promptly, you will endear yourself to your suppliers, who will certainly appreciate that you wrote that check or transferred funds quickly. That can yield dividends in other ways that will benefit you.

Be generous

Holding on too tightly to your money is a turnoff, to people and to money. So when you see a chance to make a difference with a small outlay of cash, consider doing it. 

Don’t throw cash around aimlessly, but spread it around if you can, such as by buying lemonade from a children’s roadside stand or leaving a good tip for your restaurant server. Good deeds get noticed and can end up attracting opportunities you never could have anticipated.

Now, there’s a big difference between acting promptly and appearing desperate. Some entrepreneurs are under the impression that speed suggests that business is bad. Not so. 

Getting in touch with a referral immediately or sending out an invoice right away are smart business practices. They are a part of doing business. Major corporations certainly bill immediately, because the sooner that money they are owed is in their bank account, the sooner they’re earning interest. Are they desperate? Not likely. And the same is true for you.

Acting with a sense of urgency attracts money into your business sooner than if you opt to work at a leisurely pace.