Wednesday, 3 September 2008

getting those payments in on time.

So yes, we are hitting (or have we hit?) a recession - some say that the first signs of a recession is that people are slow to pay... we have certainly been experiencing a bit of that lately. The best way to deal with this delightful part of running a business is face the non payers head on.
  1. Get those invoices out on time and more importantly make sure they are correct - dont give your customers any excuse to delay or not pay you
  2. Make sure your book keeper or you are on the phone or sending out a reminder by email as soon as the deadline is up; just one phone call and you will know what is going on
  3. Be prepared to keep your good customers happy and jetison those who are procrastinating with payments - there is no point keeping a customer and continuing with the service if they cannot pay... its the thin end of the wedge

Mmmm happy times - anyway, regardless of recession, this is how a good business needs to be run.

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