Feedback Form
Home Features Mastermind Forums About Advertise Blog Network Contact Be An Author

Collecting From Your Customers

Collecting From Your Customers

Quick! Grab your pen! Hey lady - please check off all of the following that apply to you. You're going to LOVE this...
In the past year you've:
• Prospected for clients at tradeshows
• Advertised for clients
• Networked at local events for clients - heck you've even traveled to do it!
• Invested in products or services
• Created marketing materials that attract customers in
• Sent direct mail, thank you cards
• Blogged
• Sent out an e-zine
• Had client meetings in person, or on the phone
• Spent hours on email
• Hired staff to work with customers
• Blah, Blah
OK - now that you've probably checked off the BULK of the LIST - let me ask you a question.
Are You Letting Customers Off The Hook And They Owe You Money??
An old sales manager of mine taught me something years ago. It's pretty simple.
He said:
"It's not a sale until you're paid."
And believe me - he made sure I UNDERSTOOD COMPLETELY that I was a 22 year old sales rep on 100% commission. If I didn't sell (and collect the money) - I didn't eat.
Pretty simple formula.
And for the most part - over 20 years of selling - I have worked as a straight commission sales person. So NO ONE can talk to me about "Ooooh Kim - collecting is tough."
Trust me - I've lived it and I still am. As a business owner - if I don't collect the money - it hits me in the wallet. Just like YOU. And I don't want you to have a FAILING GRADE when it comes to collecting the cash.
And with confidence I can tell you I've rarely been burned by a client for the cash. (For the few that did - they are now in the Black Hole - forever blacklisted by yours truly)
So here's the deal. Why are you working SO HARD to make money and then allowing customers to NOT PAY?
I'm not talking about all of your customers. Most of your customers pay in a timely manner and they are fabulous, send you thousands of dollars in referrals - all good.
But then there are the OTHERS -you're constantly chasing them for payment and you have "burned" by them. Or you have outstanding invoices with them that are so cold and old you've almost given up hope?
Doesn't THAT feel nice?
Here's The Great News!
Most people want to pay their bills. They really do. So in order to get paid when you want and want you want - then follow these next 5 Rules.
The 5 Rules Of Collecting The Money, Honey:
1. Establish The Terms For Payment Upfront. Look - if a client doesn't want to pay within 30 days - you need to know that. And so do they. Why? They may need 60 day terms - or not. So don't guess. Find out right away and also be clear on what you can and can't do.
2. Get Deposits. This doesn't apply to every person or every product. As a speaker I ask for a 50% deposit up front for speaking engagements. Why? I'm selling a date and creativity - 2 things I can't turn around and quickly sell to another client on short notice
3. Stay In Touch. Poor communication will kill your collecting efforts. Have you goofed up somehow? Why isn't your client paying? Have they been hit by an unexpected expense? Work with your clients and you'll have a relationship much stronger than being just a vendor/supplier.
4. Don't Be Afraid. I know - you think you're playing good cop/bad cop. But you're not. You provided a product or service and as long as everything met your client's expectations - you deserve to be paid. But don't avoid BEING THE COLLECTOR - it is a necessary part of selling and it certainly doesn't have to be disrespectful or nasty.
5. Don't Give Up. Exceptional sales people don't give up. Don't be so quick to "write-off" money that someone owes you. I have a problem with that. You worked for it - then stick to it. Be willing to take it all the way - especially if it is for a large amount of money.

Don't Reward Bad Behavior
I bet you have many wonderful clients who pay your rate without a quibble. And then there are others who grind your rate and then take forever to pay. So why do the losers get all the breaks from you??
Remember - reward those who are loyal to you, who refer to you, who choose your services on a consistent basis and who you LOVE working with.
DO NOT - I repeat DO NOT - keep accepting business from "customers" who don't pay.
Because remember - without MONEY - you don't have a business - just an expensive hobby.
So there.
Love From Your Bossy Sales Diva,
Kim





Collecting From Your Customers - To learn more about this author, visit Kim Duke's Website.

Like this article? Share it with your friends

Article Feedback
 Article Feedback No article feedback found.
  Leave Your Feedback
article feedback

Article Feedback
Jay Kubassek
(Jay's Full Bio: EvanCarmichael.com/jaykubassek)  In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.

 

As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)

 

Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. 

 

Jay resides in NYC with his wife Jamie, son Milo and dog Cooper.  Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website


To learn more about the Evan Elite Author Program please contact us.

About The Author


Kim Duke
(Visit Kim's Website)  Kim Duke, The Sales Diva, provides savvy, sassy sales training for women small biz owners and entrepreneurs. Kim works with clients internationally, showing them The Sales Diva secrets to success! Sign up for her saucy and smart FREE e-zine and receive her FREE Bonus Report "The 5 Biggest Sales Mistakes Women Make" at www.salesdivas.com< /a> You can listen to her podcasts at www.salesdivas.libs yn.com

Kim Duke is a Platinum author on EvanCarmichael.com
About The Author

View Author Blog
View Author Blog

View Author Video
View Author Video

Free Downloads


Kim Duke's

Complete
List Of
Women-Entrepreneurs
Articles

Name
Email
If you enjoyed this article, get Kim Duke's Complete List of Women-Entrepreneurs Articles For FREE!

More Kim Duke
Cool Sales Idea You Can Learn From a Christmas Orange
Are You Making This ValleyGirl Voice Mistake
A Strategy That Could Swamp You With Business
An Elephant Sized Sales Tip You Need Now
Do Your Clients Think Youre A Grudge
2 Crazy Sales Tips To Make You Gasp
The 6 Steps To Collecting Money Without Guilt
Its Official Your Sales Pity Party Is Now Over
A Ridiculously Easy Way To Increase Sales
Warning Are You Being Hit With The Outrageous Askers
Free Downloads


 
 
 


Evan Elite Authors
Joe Dager  
Casey Gollan  
John Power  
Evan Elite Authors

Become An Author
Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details.
Become An Author

Evan's Latest Video
Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media
Evan's Latest Video

Business Opportunities
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"

How to Start An Online Business

Click Here To Learn More
Business Opportunities



Evan's Newsletter
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
Name:
Email:
Evan`s Newsletter

Free Downloads
10 Areas of Differentiation Icon 10 Areas of Differentiation
Website Planning Icon Website Planning
Human Resources Checklist Icon Human Resources Checklist
Winning Sales Letter Icon Winning Sales Letter
Capture More Clients Icon Capture More Clients
Free Downloads - Complete List

Entrepreneur Tools and Guides
Top 50 Marketing Blogs
Top 50 Marketing Blogs
Top Marketing Blogs of 2010
 
Top 50 Niche Blogs 2009
Top 50 Niche Blogs 2009
Top 50 Niche Blogs 2009
 
Entrepreneur Tools and Guides

SEO For Africa
SEO For Africa
Afoutouhlin Kuakuvi Lomé, Togo,
Afoutouhlin Kuakuvi
Lomé, Togo
SEO For Africa

If I Were A Startup...
Adam and Matthew Toren , $200k to $3.4 Mil in 3 Years
Adam and Matthew Toren
$200k to $3.4 Mil in 3 Years
Travis Hartley, 426% Growth in 2 Years
Travis Hartley
426% Growth in 2 Years
If I Were A Startup... - Complete List

Famous Entrepreneurs
Hugh Hefner, Playboy
Hugh Hefner
Playboy
Wayne Huizenga, Blockbuster
Wayne Huizenga
Blockbuster
Famous Entrepreneurs - Complete List

Entrepreneur Advice
Keith Ferrazzi, Never Eat Alone
Keith Ferrazzi
Never Eat Alone
Jeffrey Gitomer, The Sales Bible
Jeffrey Gitomer
The Sales Bible
Entrepreneur Advice - Complete List

Popular Articles
(Premium Authors)

     Surviving The Medical Maze
By Steve Economides
     Windfalls Bonus or Bust
By Steve Economides
     You've Got Mail
By Steve Economides

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

More Evan Carmichael
More Information