You may need some help

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:

• Credit check for all new clients
• Credit limit for all clients
• Terms of payment 7 days, 30 days etc. Customers will have to negotiate a longer period.
• Procedure for letters 1, 2 and 3.
• Procedure for phone calls after letters.
• Cash Sales only after limit is reached or deviation from payment policy.
• Procedure for debt collection.
  
  It doesn’t matter what the rules are, as long as your customers know them and know that you will apply them without favor.

  You may need some help

  Career Tip: Your Lifestyle Affects Your Job Choice!
  This career tip is for you . . . if you’re serious about making a career or job change. Knowing your options and having a strategic plan are critical to your success in today‘s job marketplace.For instance, according to recent reports, your li
  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:

  • Credit check for all new clients
  • Credit limit for all clients
  • Terms of payment 7 days, 30 days etc. Customers will have to negotiate a longer period.
  • Procedure for letters 1, 2 and 3.
  • Procedure for phone calls after letters.
  • Cash Sales only after limit is reached or deviation from payment policy.
  • Procedure for debt collection.
    
    It doesn’t matter what the rules are, as long as your customers know them and know that you will apply them without favor.

    You may need some help

    Joie de PR?
    How can business, non-profit, government agency or association managers NOT be joyful about deploying a high-impact action plan which does something meaningful about the behaviors of those important outside audiences that MOST affect their orga
    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:

    • Credit check for all new clients
    • Credit limit for all clients
    • Terms of payment 7 days, 30 days etc. Customers will have to negotiate a longer period.
    • Procedure for letters 1, 2 and 3.
    • Procedure for phone calls after letters.
    • Cash Sales only after limit is reached or deviation from payment policy.
    • Procedure for debt collection.
      
      It doesn’t matter what the rules are, as long as your customers know them and know that you will apply them without favor.

      You may need some help

      Business Outsourcing World : Changing Dimension
      Business models have become much more customer oriented and many companies experimenting with different structures in order to discover how to meet their customer’s needs at the lowest cost and for the highest profit. One of the most effective ways o
      me 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:

      • Credit check for all new clients
      • Credit limit for all clients
      • Terms of payment 7 days, 30 days etc. Customers will have to negotiate a longer period.
      • Procedure for letters 1, 2 and 3.
      • Procedure for phone calls after letters.
      • Cash Sales only after limit is reached or deviation from payment policy.
      • Procedure for debt collection.
        
        It doesn’t matter what the rules are, as long as your customers know them and know that you will apply them without favor.

        You may need some help

        Management: Can Your Business Run Without You?
        If you are a business owner or a business owner to be, let's examine this scenario.Like other people, you are so excited when you first started your own business. But after a few months, you come to realize that you work longer hours than what
        for letters 1, 2 and 3.
      • Procedure for phone calls after letters.
      • Cash Sales only after limit is reached or deviation from payment policy.
      • Procedure for debt collection.
        
        It doesn’t matter what the rules are, as long as your customers know them and know that you will apply them without favor.

        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