Factoring Services for Small & Medium-sized Businesses

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A Price to Pay for Procrastinating

Procrastinator!....I cannot stand it when someone uses that adjective to describe my behavior.  Most of you reading this blog post can identify with that, I am sure. I have heard that more times than I would like to admit.procrastination-350.jpg

What is Procrastination? In simple terms, procrastination is having something to do that, in spite of the fact that it is a priority, you do something else instead that is much less important. A typical example in the business world is waiting until the last minute to arrange financing needs. This can be an extremely hazardous habit.

Why do we procrastinate? Have you ever found yourself or your business in a situation when a goal or deadline was upon you and you started to panic because you had allowed too much time to tick away before you began to focus? Some people say they work better under pressure. Waiting until the last minute to do things defies log and creates unnecessary stress and anxiety.

Maybe our emotions are getting the best of us. Here a short list of some of the most common emotions behind procrastination:

  • Fear of failure
  • Worry about what others may think
  • Fear of the unknown
  • Disliking change
  • Unfavorable attitude toward the project
  • Boredom
  • Feeling entitled

Therefore, the general consensus is the root of all procrastination lies in unresolved emotions. We can choose to face those emotions and move forward or we can ignore them, stay in the same old rut, and constantly fight battles that are really avoidable to begin with.

When events in your business life command attention, as a business owner, the last thing that should happen is ignoring the issues and putting off making a game plan. When it comes to cash flow and financing needs, it is imperative to plan sooner rather than later. I can cite too many examples of terrible things that happen when a business owner puts off factoring the company’s accounts receivables. I can tell you that, many times, business owners are more concerned with what other people think about them factoring their invoices instead of focusing on the benefits factoring will provide their company. Many times these delays promote delinquency with payroll tax payments, negative vendor relations, customer complaints on quality and timeliness of service and cash flow shortages for payroll…to name a few.

The point to drive home when it comes to procrastination is RESIST and REFUSE to cave into emotional elements that promote procrastination. Make that positive choice and discipline yourself to prioritize. Surround yourself with “guardian angels” that want to help. Seek wisdom and you will always benefit from its guidance.

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