Archives for February 2009
How to Get Paid in a Recession
It’s been over 2 years since we addressed the subject of getting paid for work done and services provided, yet that subject is probably closer to the hearts of many a small business owner than ever before in these recession-hit times, when:
- Companies big and small are ‘going to the wall’
- Even good, established customers are taking longer to pay
- Cash isn’t flowing as it was even 6 months ago
- Be prompt in chasing – you’ve provided the service or product
- You are entitled to the money by the agreed time
- The longer you leave it to chase your money, the further down the queue you’ll go when the cheques do get written out
- Speak initially to the Decision Maker who bought from you – three reasons for this:
- Don’t back down – be prepared to state your case to the top man or woman
- Be pleasant but firm – no-one wins if a slanging match is allowed to develop
So let’s have a quick update:
The telephone can be your best friend – a very useful tool in chasing money, second only to presenting yourself at the customer’s premises, so keep lines of communication open!
This is the person who values the purchase
This is the person with whom you are building an ongoing business relationship
In short, this person has a vested interest in keeping you sweet – don’t know about you but I can remember numerous occasions standing over Financial Directors and making them write out a cheque after ‘getting it in the neck’ from a totally fed up supplier!
Over to you and best of luck!
Linda Mattacks is the author of a series of training courses available at SellingForBusiness.co.uk developed to provide easily accessible training for small businesses who are not in a position (or may not want) to take time out to attend formal training sessions.
