Hi ladies, some time ago, last month, we focused on understanding our business finances, debt ratio, profit margins, etc.
This October, we will focus on ways to ensure this money hits our account…. Yes ladies, how do you ensure you get paid after delivering that service? This is actually very important for service providers , where the client says I will give you 50% now or you get paid after you have set up the decor (for event planners & decorators).
Hate collecting your money? Join the club. Recent studies shows accounts receivables is the top cash flow concern of small business owners. To ensure that we get paid, we will share some debt collection tips and best practices this month of October.
First on the list is :
• Take a Positive Stance
Don’t take it personally if your customers aren’t paying their bills on time…(remember not to lose your customer service tact ,even when this can seem very difficult to do). Look into why the bill is late.
It could be your client simply forgot( I always like to give the benefit of the doubt , this way I remain positive). To help avoid these types of missed payments, provide a gentle reminder immediately following the invoice due date.
Yet to access simple tools for free invoice creation? You can speak to us, as we are always available to support.
Stay connected with us as we share some more tips tomorrow.
