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6 Useful Tips On Chasing Payment



6 Useful Tips On Chasing Payment
   

6 Useful Tips On Chasing Payment Provided you know your own house is in order (see the article Do Your Customers Pay On Time? 5 Check Points For Upfront Ease Of Payment if you’re not sure) and there is no reason that you know of why payment should not be immediately forthcoming, don’t be afraid to take these tips on board and state your case to errant customers.

1) Be prompt in chasing - you’ve provided the service or product

2) You’re not begging for a handout - You are entitled to the money by the agreed time

3) The longer you leave it to chase your money, the further down the queue you’ll go when any supplier cheques do get written out

4) If you are getting the run around from the customer company, the person who made the sale should speak initially to the Decision Maker who bought from your company - three reasons for this ****This is the person who values the purchase

****This is the person with whom your company is building an ongoing business relationship

****In short, this person has a vested interest in keeping you sweet - I can remember numerous occasions when I’ve been on the buying side of the equation and stood over Financial Directors and made them write out a cheque after I’d received a telephone call from a totally (and understandably) fed up supplier!



5) Don’t back down - be prepared to state your case to the top man or woman

6) Be pleasant but firm - no-one wins if a slanging match is allowed to develop

One final point:

We’ve all heard of how the 80/ 20 rule often comes into play as a business becomes more established: 20% of your customers provide 80% of your business.

Take that a further logical step and say that the same 20% also contribute to around 80% of your turnover. If one or more customers within that 20% are allowed to get into the habit of late payment it won’t be long before you’re storing up cash flow problems for yourself.

Don’t let that happen to you: Use these tips to nip it in the bud!

Linda

6 Useful Tips On Chasing Payment - To learn more about this author, visit Linda Mattacks's Website.

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About the Author


Linda Mattacks
(Visit Linda's Website)
"Linda Mattacks is one of those rare professionals who combine deep strategy-awareness with a thoroughly practical approach to business marketing. What's more, she is as much a hard-nosed and sales-driven results seeker as she is an intuitive people person who understands what makes everyone tick. She has built a wealth of experience in sales training, business research, marketing campaign planning and project management. Linda has helped organisations of all types and sizes in the UK and Europe to learn more about their customers and markets, and turn that knowledge into revenue. Her mature and human manner has won her both business partners' and colleagues' complete trust, which has opened many new opportunities for all involved.” - Jaakko Alanko - MD McCann-Erickson, Business Division, London, England ... Linda Mattacks M IDM (the Institute of Direct Marketing) is a trainer and mentor. She has developed Selling For Business, a course that combines the sales, research and contact marketing skills that enable individual entrepreneurs and small businesses to compete successfully with large organisations. Please visit www.sel lingforbusiness.com for more details
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