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 cango 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