Business Podcasting Blog

To be paid, just as you would imagine is fundamentally important to your business because if you are not getting paid, what’s the point in business?

You would be laughing at the heaps of business people who permit their clients to pay up when and if they remember it. I am acquainted with such a tradesman who always collects bad debts like accolades. Why is that? Simply because he cannot bring himself to demand the money and people can just overpower him.

If you give a client credit, do it only after they cleared their integrity to you by paying cash on delivery (COD) for a period. Secondly, you should check whether they have the money to pay you - if they don’t then you should not do business with them. Don’t kid yourself into the line of “I need the work” or “I need the sales”. It’s pointless in doing the work or providing the goods for free if you do not get paid.

If you are the kind of person who can’t ask for the payment when the service has been finished, try these ideas:
Tell your customer that when all the work is finished, you will need cash or cheque. They should more than likely have it ready at the point of sale and you will not have to request your pay.

When you send a quote, make sure your payment terms are understandable.

Form an invoice that has your terms of payment clearly listed and give the customer the invoice when the job is done. They can review the invoice and generally realise they need to pay you for it now without you needing to say anything. Create an “evil boss” who might torture you alive if you do not return with the fee for the service.

Set up your banking to have you running with Merchant facilities so you can take credit cards including Mastercard and Visa. Most people utilize credit cards and it can prevent the problem of the client not owning a cheque account or not having the right cash on hand.

Alternatively, don’t be afraid to hold the promised goods til you have been paid. Understand, until they’re paid for, they remain to be yours.

If you decide to permit a client credit, be sure you have taken the following contact information off them some time BEFORE you give them credit.

• Name
• Address
• Phone number
• Bank name and address
• Account no.
• 3 trade references with their names, addresses and phone numbers

When you know all this detail, telephone the bank and make for certain that they use an account there. Then, ring each trade reference and find out if they pay their debts consistently or if there have been any difficulties with them.

Most people will be willing to tell you if the person is troublesome. If everything is OK, allow them a moderate level of debt, say no more than $500 (depending on your business). Monitor the operation of the account for a few months before allowing this amount to be exceeded.

If you’re looking for a Brisbane web design company or Brisbane SEO company, talk to Search Tempo. Check out their SEO prices today.