Avoiding $500k of debt
Discover how Wakefield Pacific achieved zero debtor days, 100% positive cash flow, and 250+ new clients in under two years with automatic payments and a subscription-based model.
“A massive benefit of Ignition is you avoid that awkward conversation around fees after the work is done. Having those conversations at the start means you’re both on the same page, there are no surprises for the client at the end, and you can just focus on delivering great work.”
Mitch Calley, Director, Wakefield Pacific
With so many possible ways to run a business, sometimes it's easier to start with what NOT to do. Having witnessed the damaging effects of debt at previous firms, Mitchell Calley was determined not to make the same mistakes when he set up Wakefield Pacific in 2020.
Today, the firm employs four people who serve over 250 clients and, thanks to smart technology and shrewd strategy, enjoys zero debt and positive cash flow. We talked to Mitch about how Ignition helps increase cash flow, minimise business risk, and provides clarity and confidence for his clients.
The challenge: Achieving positive cash flow with zero debt
When he established his firm, Mitch had one goal in mind: he would not go into debt. “Previous firms I worked for saw debts of $500k. I didn’t want that to happen at my firm.”
Also noting that many firms he’d worked at were slow to adopt technology, Mitch wanted to avoid making the same mistakes and choose great client engagement software. So when he heard about Ignition 12 months after starting his firm, he immediately jumped on board.
The solution: Ignition’s automated upfront payments
From the get-go, Mitch established a best practice policy, requiring 100% payment upfront once a client signs. Ignition’s clear proposals and payment integrations have allowed Mitch to execute his strategy, with incredible results.
“Since implementing Ignition I haven’t had any cash flow issues. I haven't had any bad debts. I haven't had any disputes over invoices.”
Wakefield Pacific runs on a unique subscription-based model where clients are engaged at EOFY and pay upfront for all work for the following financial year – and Ignition’s smart automation means he’s able to put this model on autopilot.
“By the time 30 June rolls around, I’ve engaged clients for the following year and they’ve already paid upfront for next year’s work. Ignition allows me to easily manage this model and it’s great for cash flow.”
His model has also come with some surprising benefits. Since using Ignition to collect upfront payments, Mitch has found that clients are more willing to accept higher fees for services.
“Ignition has allowed me to quote a little bit higher on services because the proposal is so nicely presented with services, fees, and terms clearly set out. It’s all there ready to send the same day I meet with my client who can sign it on the go. The level of professionalism is excellent.”
With payments already taken care of by Ignition, Mitch no longer spends time chasing invoices. He’s now focused on growing his business and nurturing client relationships.