Rule One of Business: Get Paid
Being paid, like you would imagine is fundamentally the point in your business because if you aren’t getting paid, what are you doing in business?
You would be laughing at the amount of business people who only have their clients to simply pay when and if they feel like it. I know of such a business owner who continuously holds bad debts like accolades. Why, do you think? Very possibly because he cannot bring himself to take the money and people just use him.
If you permit someone credit, only do so after they proved their worth to you by paying cash on delivery (COD) for some time. Secondly, you should check whether they have the money to pay you - if not then you shouldn’t do business with them. Don’t trick yourself into the line of “I need the work” or “I need the sales”. It’s fruitless when you do the work or providing the goods for zip if you are not getting paid.
If you are the sort of person who can’t demand the payment after the work has been done, try these cheats:
Tell your customer that when the job is completed, you need cash or cheque. They will more than likely have it to hand over at completion and you will not need to demand your money.
When sending out your quote, make sure your payment terms are evident.
Do up an invoice including the terms of payment clearly printed and hand the client the invoice when the work is finished up. They will look at the invoice and simply know they will pay the money now without you having to say a thing. Invent an “evil boss” who might flay you alive if you can not leave with the pay for the service.
Organise your branch to hook you up with Merchant facilities so you can have credit cards including Mastercard and Visa. Most people have credit cards and it would cease the dilemma of the client not operating a cheque account or not having the right amount of cash at the time.
Likewise, don’t be frightened to hold onto your goods till they have been paid for. Remember, until they have been paid for, they remain to be yours.
If you choose to allow a client credit, make sure you get the following contact information from them at a point PREVIOUSLY you allow them credit.
- Name
- Address
- Phone number
- Bank name and address
- Account no.
- 3 trade references with their names, addresses and phone numbers
When you know all this detail, telephone the bank branch and make for sure that they use an account then. Then, phone all of the trade reference and request if they pay their debts correctly or if there are any problems with them.
Most people will be willing to tell you if the person is troublesome. If everything is OK, allow them a moderate level of debt, say no more than $500 (depending on your business). Monitor the operation of the account for a few months before allowing this amount to be exceeded.
If you’re looking for a Brisbane web design company or Brisbane SEO company, talk to Search Tempo. Check out their SEO prices today.
Sphere: Related Content