Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Nicki Kinton, founder of Confident Cashflow, located in Swindon, Wiltshire, UK.

What's your business, and who are your customers?

My business is Confident Cashflow, and for over five years, I have worked with B2B SMEs to resolve erratic cash flow created by late-paying customers. I believe that late payment is not the problem. It's a symptom that something is missing in how a business grants, monitors, and controls its credit terms. I work with businesses, particularly in the creative, manufacturing, and trade sectors, to plug those gaps so that cash flow becomes more predictable, making decision-making more straightforward and allowing the business to grow.

Tell us about yourself

I'd worked for big businesses for all my working life, mostly in general insurance with a short stint in fuel distribution, and I'd worked my way up from Junior Credit Controller to Credit Manager, looking after teams in multiple locations. When anyone in the team struggled to get payment in or faced someone being aggressive or difficult, I would often be called upon to talk to the customer.

I would ask lots of questions to try and establish why we'd not been paid, and often the answers would be along the lines of:

  • We can't pay you because we're having cash flow issues.
  • We can't pay you until client X pays us.
  • We can't pay you as our biggest client has just gone bust, owing us a lot of money.

I'm a natural fixer, and I found more and more that I wanted to ask more questions about their credit management processes and control and offer advice on how they could either manage the situation or prevent it from happening again. I felt that if only they had the tools/knowledge we had in our big business, they might have a better chance of getting past their cash flow challenges and thriving. A friend suggested I become a consultant to bring that knowledge to smaller businesses, and my husband agreed. I'd always been drawn to setting up a business after watching my dad build a successful accountancy practice, so with my husband's support, I get to do just that every day. I love seeing those lightbulb moments, the stress slipping away, the figures going from red to black, all because of some simple changes that a client made on the back of spending some time with me. I want all businesses, no matter their size, to have every opportunity to succeed and thrive.

What's your biggest accomplishment as a business owner?

I think it was nominated and shortlisted last year at the South West Business and Community Awards for Female Entrepreneur of the Year. I'm not very good at blowing my own trumpet (despite being an accomplished musician!), so I would never nominate myself for an award, which makes this very special. It highlighted to me that I am achieving my goal of supporting the local and wider business community. It was a pleasure to be recognised for that.

What's one of the hardest things that comes with being a business owner?

The hardest thing for me was transitioning from being part of a busy office environment, with people around to talk with, to being just me at my desk in my home office. I'm a natural extrovert and found solitude soul-destroying at times. I counter this now by networking and working from other locations from time to time. Just having that buzz of activity around you can boost your productivity!

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. Get your Ts & Cs in writing from the outset. I see many businesses waiting until they get that first 'big' contract or until something goes wrong. Having them in place before you've got your first clients, and learning how to use them properly, will save you time and money in the long run. Have them professionally written rather than using a template or copying someone else's. That way, they protect you and set the expectations you want.
  2. Communicate with your clients. Get to understand them. Understand their payment processes. Make sure they understand your terms. Don't hide behind emails, have honest, live conversations about more than what you're good at. If you do, there will be fewer surprises along the way.
  3. Go to experts for advice, not social media. We tend to throw questions into the ether, and we get bombarded with advice. Not all of it is good for us and our business, and whilst well-meaning, some of it is misinformation or even illegal.

Where can people find you and your business?

Website: https://www.confidentcashflow.com/
Facebook: https://www.facebook.com/ConfidentCashflow
Instagram: https://www.instagram.com/confidentcashflow/
Twitter: https://twitter.com/ConfidentCashfl
LinkedIn: https://www.linkedin.com/in/nickikinton/

If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.

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