How Do I Deal With The Litany of Excuses for Late or Non-Payment?

In This Episode

Just about every business owner we’ve met has had to deal with collecting payment from customers who are simply late in paying for products or services or are actually refusing to pay. What’s the best way to deal with these situations? Depending on your style, you may actually look forward to calling up and yelling at someone to pay you, but most folks would rather get poked in the eye than have to confront someone on payment and have a potential conflict.

At this point, we’ve nearly heard all the excuses people will float your way. Everything from “We didn’t get your invoice” to “We’re cutting you a check this week” to “Someone stole our checks”. There are some simple things you can do to avoid getting into these situations. There are also several things you can do to effectively collect what’s owed to you and do it in a way that isn’t going to cost you customers or hurt your bank account!

On tonight’s show we also address whether you should give someone a “man hug” after you’ve fired them and is it really better to work for someone else or yourself? You won’t believe the stuff we found on these topics!