Getting paid, you would understand is essentially the point to your business because if you are not getting paid, why are you in business?

You will be shocked at the heaps of business people who only get their clients to pay up when and if they feel like it. I am acquainted with a business owner who persistently collects bad debts like trophies. Why? Just because he can’t bring himself to demand the cash and lets people overpower him.

If you give a client credit, only do so after they have proved consistency to you by paying cash on delivery (COD) for a period. Secondly, you must gauge whether they have the funds to pay you – if not you should not do business with them. Don’t kid yourself into saying “I need the work” or “I need the sales”. It’s pointless in doing the service or providing the goods for nothing if you aren’t getting paid.

If you are the type of person who can’t request the money even when the work has been done, try these cheats:
Tell your client that when the job is done with, you will need cash or cheque. They should more than likely have it on them at the point of sale and you don’t need to request your pay.

When handing out the initial quote, make sure your payment terms are visible.

Do up an invoice including the terms of payment simply printed and hand the client the invoice when the task is done. They should look at the invoice and reactively assume they should pay you the money now without you needing to say a thing. Invent a “vicious boss” who would skin you alive if you can not bring back the money for the service.

Set up your bank to provide you with Merchant facilities so you can have credit cards like Mastercard and Visa. Most people have credit cards and it will cease the problem of the customer not having a cheque account or not having the cash at the time.

Moreover, don’t be asked not to hold onto the goods until after payment has been made. Remember, until the goods are paid for, the goods remain to be yours.

If you choose to permit someone credit, be sure you have taken the following information off them at a point PREVIOUSLY you permit them credit.

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

When you record all this detail, contact the banking institution and make for certain that they have an account with them. Then, phone all of the trade reference and inquire if they pay their invoices punctually or if they have any problems 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.

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