Our advice for new business owners as they walk into the world of invoicing and getting paid
Starting your own business is an exciting journey filled with passion and potential. But as any experienced entrepreneur will tell you, the difference between success and failure often comes down to one crucial factor: getting paid. In this comprehensive guide, we’ll share the hard-won lessons, practical strategies, and real-world insights that will help you master the financial side of your business from day one.
2026 is a particularly interesting year to start a business, as:
Nearly two-thirds of workers say they’re turning to extra income streams this year, with 32% already holding a side hustle and 30% planning to start one in 2026, according to the Monster survey.
Your small business payment system matters
When we started businesses, we thought the most important thing was delivering great work. We quickly discovered that without proper invoicing and payment systems, even the best services can fail; we tried everything from carbon copy receipt books to Google Docs and spreadsheets. The biggest mistake was trying to manage everything manually, thinking that would be cost-effective, but it actually cost time and money.
The truth is, when you're a business owner, your time is your most valuable asset. Spending hours on invoicing and payment collection isn't just inefficient—it's a poor use of your time that could be spent growing your business. That's why investing in the right tools early on isn't an expense; it's an investment in your success.
Your complete guide to estimates and invoices
Creating Estimates That Work
Some work requires estimates—approximations of labor and cost that may change over time. The key is to have a system where estimates can easily become invoices once both parties agree on the scope and pricing.
Modern tools like Hola Bili make this process incredibly simple. With our experience, we've found that the best systems allow you to create estimates and invoices with the ease of sending a text message. Just dictate your needs to an AI assistant, add customer information, and confirm everything is correct. This eliminates the tedious paperwork and lets you focus on what matters most.
Invoicing for new business owners
Invoicing with Hola Bili can be seamless:
Start with a clear estimate
Convert it to an invoice when work begins
Track payments automatically
Follow up on late payments
The beauty of good invoicing software is that it handles the follow-ups for you. No more remembering who owes you money—your system reminds you automatically.
When it comes to payments, customers want convenience. Offering multiple payment options isn't just a nice-to-have—it's essential. We've found that successful businesses accept:
Venmo for quick, peer-to-peer payments
PayPal for broader acceptance
Cash App for younger demographics
Stripe for credit cards and bank transfers
The key is flexibility. You never know which payment method your customer will prefer, so give them options. This isn't just about making payments easier for customers—it's about reducing friction and increasing your chances of getting paid on time.
Managing payments and bad customers
Late payments can kill a small business. The solution starts with clear communication from day one. You should have clear, easy-to-understand payment terms that your customers are aware of, perhaps add in your contracts or mention verbally, and be consistent about these terms.
Hola Bili allows you to manage flexible due dates, partial payments, and outstanding payment tracking. This approach helps you identify potential issues early. If a client can't make even a partial payment, you know there's a problem before it becomes a crisis.
Without proper tracking, you're flying blind. We’ve had Hola Bili customers who were keeping all their invoicing info in their heads, but with our tool you can count on: real-time cash flow tracking, visual reports and graphs, alerts for late payments and comprehensive customer payment histories.
Managing payments should be easy
We built Hola Bili to enable small business owners to focus on what they do best. We offer a single, affordable tier that's 20-30% less expensive than competitors without sacrificing functionality. The goal is to make invoicing and payment management as easy as possible so you can focus on what you do best.
Small business owners should keep this in mind when getting started:
Choose your invoicing system (don't try to manage it manually)
Establish your payment terms and get them in writing
Set up multiple payment options for customer convenience
Create a collections policy before you need it
Review your cash flow weekly, not monthly
Track every dollar owed to you
Remember, financial management isn't about being stingy—it's about being smart. When you get paid promptly and consistently, you can reinvest in your business, pay yourself fairly, and build the sustainable business you envisioned.
