When you’re owed money from customers,you might think the
most important thing is that you get paid. And, while getting paid certainly is
important, it’s equally important to maintain your good reputation and, when
possible, your good relationship with clients.
One of the ways you can ensure you get paid and get along
with customers is to always demand payment upfront or cash on delivery. If
you’re not giving people anything on credit, then you never have to worry about
not getting paid or about making anyone angry.
If you must offer credit to your customers, then you are
going to run into customers who don’t pay or who pay late. That’s just part of
doing business unfortunately. If that does happen to you, always try getting
your money through “gentle reminders” first. A friendly “reminder” phone call
or email can
go a long way toward maintaining your relationship with customers
and still getting your money.
Of course, if customers don’t respond to your “gentle”
reminders, you will have to up the ante a bit with more urgent phone calls and
letters. Be consistent with your reminders, but remember, you can (and should!)
still be cordial and friendly. After all, you have your business’s reputation
to think about; plus, the law prohibits you from threatening or being overly
aggressive with your delinquent customers. If none of your tactics work, you
may, unfortunately, have to either let the debt go or settle it in court, but
at least you will have maintained your dignity through it all.
Of course, if you don’t want to deal with any of this stress
and hassle, you can always hire a third-party collection agency to do it for
you. If you go that route, just make sure you are careful to hire a reputable
collection agency that operates within the bounds of the law and that will be
just as careful as you would to protect your business’s good name. #ThirdPartyCollectionAgency #Kinum
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