Business News

Business Boot Camp, day five – exert some debtor pressure

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by Peter Switzer

Having debtors who won’t pay on time is a major cause of cash flow problems. Sometimes, getting a customer to pay can be like pulling teeth. Some business owners put off calling debtors, but how does that help cash flow?

Put aside a particular time each week to contact the debtors who have outstanding debts rather than calling every now and then. This will help you get organised.

When you send out invoices, make sure your client is well aware of what your terms are.

Also, if you can’t bring yourself to make the calls, or you just can’t seem to find the time, considering hiring someone who can, like a great bookkeeper.

Do you have any tips for getting debtors to cough up the dosh?

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Published on: Friday, December 24, 2010