Most business owners would say they don’t tell lies. But they do.

And guess to whom we lie and deceive the most?

No surprises if you guessed right – ourselves. Why?

Simple: because we can and do if it suits our self-image.

It’s incredible how human brains can comfortably manage our “motivated beliefs” regardless of whether the beliefs are real or false.

Common deceptions include:

  • The child who squints at school but denies needing glasses.
  • The 90% of drivers who consider themselves “above average” even though 50% must statistically be below average.
  • The person who declares “I’m a terrible public speaker” so forever avoids the opportunity or practice.

The deception smartAR encounter most is with the business owner who is short of cash. Their clients often pay three times more slowly than their terms of trade allow BUT owners will deny having a problem with debtors.

The cash flow deception exists because having a problem with debtors is seen as “bad”. All business owners see themselves as operating a “good” business.  When reality is at odds with self-perception, we tend to lie to ourselves to maintain a positive belief.

Is more proof needed?

When businesses (regularly) fail because of poor cash flow the same owners will now always readily attribute the failure to some external forces.  “If only our debtors had paid more quickly” or “My accountant was hopeless and never told me” or “The competitors dropped their prices ridiculously low” or …

Strange isn’t it how a lie is often in the middle of our belief system? Successful businesses are always challenging their belief systems. So… again, how are your debtors?

Are there other lies we tell ourselves as business owners?

Are your clients struggling to pay their bills on time? You can learn more about smartAR’s range of business solutions including Fee Funding, Instalment Plans, Digital Payments Platform, Outsourced Ledger Management and Digital Assistants (AI) by exploring our solutions page.

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