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"Just because a customer is large doesn't mean it can pay its bills. Many large firms have gone bankrupt."
The Lowdown on Credit
"You're going to find that the process of extending credit is one of the most onerous aspects of running a business. If you can get away with being paid up front, or on delivery, by all means do it!"
Credit Policies
"You need to establish credit policies before orders start coming in. You need to inform customers up front if orders exceed their limits so that they can prepay the credit overage before shipment or scale their orders back."
Invoice and Statement Suggestions
"Be sure to follow invoicing instructions to the letter of the
customer's instructions, even if they are cumbersome or if payment
might be significantly delayed."
The Check Is in the Mail
"If you have to sell on credit, you need to focus on turning those receivables into cash as soon as you possibly can."
The Successful Collection Call
"When you place a call to collect on an overdue invoice, remember that being as pleasant as possible is the fastest route to getting paid as soon as possible."
Successful Collection Letters
Two sample collection letters
- Featured Book
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 Streetwise Small Business Start-Up
When you start a small business you soon discover that things just don't happen in the real world the way they tell you in business textbooks: Invoices don't get paid by their due dates,
ads don't consistently bring in customers, sales don't continually rise, and profits aren't always there.
In this book, small business maverick Bob Adams shows you how things really get done, and acts as your mentor by providing instant access to streetwise advice on every small business topic.
Regular price: $17.95
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