Doesn't it frustrate you when you've given good service, sometimes super service, and the customer doesn't pay you?
Some of them aren't doing too well and are struggling for cash, but, gee, so are you. In the time they take to pay they could have paid off a little each week and the debt would be gone.
You know others have the money but it takes them six months of sending them copy after copy of invoices, letters and telephone calls before they open their purse?
And often the worst are Government Departments and large businesses. You don't want to lose sales to these customers but your cash-flow is hurting and you dropped your price to get the contract as well.
Is there any way to stop it?
Perhaps not completely, but there are ways to control the problem. Owners should have a clearly defined Rules of Credit which is known to staff and customers?and they should apply them consistently.
Many owners started off with some rules but over the years they have become lax at applying them. Customers and staff have become so used to breaking them that it's as though there are no rules at all.
The minimum rules are:
You may need some help from your accountant to fine-tune the procedure and help with the letters and telephone script. http://www.profitstrategies4business.com
About the Author
Kelvyn Peters CPA is one of the longest serving Tax Agents in Australia. He registered as a tax agent in 1962 and was appointed as a CPA in 1964.
He is well-known for his ability to rescue an ailing business. http://www.profitstrategies4business.com
Ford Excursion rentals Bolingbrook ..Sometimes the simple businesses are the ones, which make good... Read More
As a business owner, you already know how important it... Read More
I started working with another new client last week. He... Read More
What was your aim when you went into business for... Read More
How many hours do you work a week? When was... Read More
Small businesses need Public Relations, possibly more than large corporations,... Read More
When is advice free and when should you charge for... Read More
Small business owners can relieve a lot of their own... Read More
Many new ventures are preoccupied with all the money they... Read More
Now that winter has passed, the annual ritual of spring... Read More
If you plan to do business online, then your website... Read More
First, we need to define the different kinds of skip... Read More
The less a business pays for goods and services the... Read More
Pardon my enthusiasm, but a large part of your small... Read More
What image do you and your people portray to your... Read More
The air in my client's office nearly crackled with her... Read More
Just a few years ago, when one thought of a... Read More
BioTechs even with the latest news had shed over 1000... Read More
Top 3 Ways to Maximize Your Small Business Server Consulting... Read More
How many "get rich schemes" have you joined? Or have... Read More
Many mobile car wash operators would like to add de-ionized... Read More
Your grandfather probably told you to "learn something new everyday".... Read More
Why would you use an event pass?Event passes are often... Read More
Your business is making profits, but where is the cash?... Read More
If you are a small business you know that you... Read More
Bluffs Ford Excursion rentals ..The Federal Trade Commission is upgrading the franchise law and... Read More
Your grandfather probably told you to "learn something new everyday".... Read More
Obtaining a business credit card enables the small business owner... Read More
"Inch by inch, row by row...that's the way my garden... Read More
All franchises must meet the legal definition of a franchise... Read More
Service Cleaning Businesses must maintain their equipment in order to... Read More
A top executive called up me late in the night.... Read More
What is a Family Business? A family business is basically... Read More
Many new ventures are preoccupied with all the money they... Read More
Many ventures are faced with the challenging task of raising... Read More
The Federal Trade Commission decided to sit down and revamp... Read More
Paul Leonard's BirthdayCards2Go.com paid greeting card service offers convenience when... Read More
Having a successful business means also having a good working... Read More
Washing manufactured homes, mobile homes, can be a lucrative and... Read More
Whether you are an Entrepreneur or Business Professional there are... Read More
Aircraft Interiors of personal and corporate jets have hundreds of... Read More
The Federal Trade Commission which governs the franchise industry thru... Read More
Since you own a business you probably have liability insurance... Read More
A Small Business Opportunities Magazine is one of the new... Read More
If you're like me, you love accounting. It's so fascinating... Read More
Tammy, a skilled and gifted horticulturist, called me to discuss... Read More
Every business starts with an idea or a dream. To... Read More
The FTC, Federal Trade Commission, is considering modifying the franchise... Read More
Forget everything you've ever heard about the U.S. Small Business... Read More
Here are seven ways for owners of small businesses to... Read More
Small Business |