In the May edition of the Red Box newsletter, we have:
How To Deal With Bad Debtors
Glow Branding You
A Little Bit About Red Box
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How To Deal With Bad Debtors
It seems that dealing with late payers is something that we all have to face up to, sooner or later. As a small business owner, cash flow is one of the areas that either makes you or breaks you. Especially in this current economic climate, being paid promptly is key.
However, with some simple procedures in place, late payers can be dealt with, like checking a potential client's credit history or encouraging fast payment. Here are some simple tips that you can put in place right now to help your business.
1. Credit check potential customers - while it is tempting not to check a new customer's credit history, to save time, it is vital to carry out these necessary checks to ensure your customers are able to pay you for your goods or services before you commence any deliveries or work on their behalf.
2. Terms and conditions - designed to protect your rights, limit your liabilities and provide you with some security, terms and conditions need to be clearly stated on all relevant documentation to both existing and new customers.
3. Payment terms - these need to be set at the beginning of a relationship with a new customer and followed up with written confirmation which must be signed and returned by your customer before you commence working on their behalf.
For more tips, click here.
In the UK, for example, under legislation there, businesses have the right to claim through the courts for unpaid fees.
Talking about this to a colleague, she suggests adding interest to the invoice each month the payment is overdue. It may be an incentive; why pay more when you don't have to?
I also like to be paid up front, retainer style. This way my clients know what they are paying for, and the next round of hours/fees/work carried out doesn't commence until my fee is safely in the bank. The client knows that if he doesn't pay, the work won't get done.
At the end of the day, if a client is a persistent offender, is it worthwhile hanging on to the them? Could your time be better spent looking for new customers than constantly chasing a client that doesn't respect you, your time or commitment to them enough to pay you in an appropriate and timely way? Back to Top
Personal Branding With Glow Branding You
Você ® é a Marca de referência no seu local de trabalho?
A Glow Branding You , apresenta programas que visam causar o impacto desejado num primeiro encontro, aumentar a auto-confiança, aprender a agir perante qualquer tipo de situação, sem alterar a personalidade de cada um.
Proporciona igualmente as ferramentas que permitem identificar a Imagem de Marca de cada indivíduo, no sentido de atingir os objectivos com sucesso, sejam a procura de uma promoção profissional, um novo emprego ou o início de um novo negócio.
Mais informação, contata a Esther Liska de email ou no Personal Branding site.
Glow Branding You presents a two day program in Porto 25-26 May 2009 focussing on Personal Branding . The 2 day course will look at first impressions, raising self-esteem & learning how to make the best of any situation, without changing who you are.
For more information contact Esther Liska by email or go directly to the Personal Branding site .Back to Top
Red Box Virtual Office is an off-site business support service that can save your business time & money. By outsourcing your administration to Red Box, you free up your valuable time to focus on your core business.
While we can take care of your emails, take your calls, organise your diary, we also:
• Manage events
• Write your newsletters/ezines
• Write content for your blogs/website
• Manage client care
• Proof read & edit documentation such as e-books & PR materials
• Transcribe 1:1 & group interviews
• And much more!
Please visit our website or get in touch to see how we can be of benefit to your business.Back to Top
