The app lets you do your accounting and invoicing in one place, which is convenient for small business owners. ZipBooks is one possible solution to the daily struggle with liquidity. It was ironic that even though his company was looking better and better on paper, his cashflow headaches grew right alongside his “on paper” profits. This is a function of working with larger companies because they usually want better terms than the smaller clients. Growing revenue in the medium term always meant less cash on hand in the short term.Īs you grow as a company, projects get bigger but payments often get slower–and you still need to pay your employees every two weeks. Before going to business school, he ran two different businesses and learned a lot about the counterintuitive nature of business growth. Below is our interview with Brad Hanks, Growth Engineering Executive at ZipBooks:Ī: Tim Chaves, CEO and founder of ZipBooks got the idea for invoice financing from his own experience as a business owner. The biggest challenge they are facing is educating small business owners about what invoice financing is and how it can benefit their business. Because of the way they make money, they are able to leave the invoicing and accounting features free for everyone. They think there is a better way to run a business than to charge everyone the same monthly subscription. They’re making a run at the traditional SaaS business model by providing short-term financing to small businesses. ZipBooks develops free accounting software for small businesses.
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