Date published: 01.09.08 - not release date

CRITICAL STEPS TO GET PAID BEFORE CHRISTMAS

Troubleshooting

With Christmas approaching fast, many companies leave it too late to collect their debts. Troubleshooter John Whiteman advises Individuals and Companies to get in early and avoid the Christmas rush.

Looking ahead to the Christmas period there's always intense pressure for a company to collect in as much money and pay out as little as possible. There are often those that don’t chase their debt early enough and end up getting paid in January!

Leaving it too late in the day could mean you don’t manage to have the festive time that working very hard through the year should bring.

John Whiteman's 8 ‘Critical’ tips to getting paid before Christmas

1.‘Clients.’ Agree credit terms with your clients to structure you getting paid as quickly as possible.

2.‘Risk.’ Set a credit limit of an amount that you are willing to risk if your client does not pay. Minimise your exposure to bad debt.

3.‘Invoice.’ Invoice early and promptly before the month end. Leaving it to the end of the month causes delays

4.‘Telephone.’ 7 days before payment is due call to make sure that your invoice is going to be paid promptly.

5.‘Investigate.’ If your invoice does not get paid on time telephone to investigate why it has not been paid. Also send copies by e-mail, fax and post.

6.‘Commitment.’ Get a commitment from them to pay. Write down notes of every contact with your client chasing invoices together with who you speak to. Ask for a date and payment by BACS, post dated cheques, can you collect funds?

7.‘Action.’ Telephone daily. Collect a cheque by hand. Keep pushing by being firm and to the point. People do not like hassle and these tips should get paid ahead of everyone else.

8.‘Learn.’ Try to learn and improve on this process.

These ‘CRITICAL’ steps to getting paid might just make the difference to your Christmas.

Give someone in your Company the dedicated task to get in as much money before the 1st week of December.

For more ways to improve your business please contact:-

John Whiteman
Telephone: 07976 766560
Email: ge@johnwhiteman.com
Website:www.johnwhiteman.com
Website:www.riverbpm.com