Having trouble getting paid by customers? – Try these 8 tips
A lot of business owners struggle with getting their customers to pay, and, as a result, get into cash flow difficulties themselves. Here are 8 practical tips that may help.
1. Clear expectations
Make your payment expectations clear on all your invoices and your Terms of Trade, which ALL customers should sign. Set the scene from the onset, making it clear that prompt payment is a condition of doing business with you.
2. Resolve quickly
Deal with queries or disputes as quickly as possible to get any excuses from your customers out of the way. The longer you leave matters in limbo, the longer it will be before you get paid.