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Guest Post: "A Primer on Collecting Late Payments"

From a friend who is an established consultant, who has both worked for major consultancies and run his own shop. He gives us these useful pointers today -

"A Primer on Collecting Late Payments"

Anyone who has ever done business has had occasional difficulties collecting payments from customers. Experience shows that putting some attention (in advance) on a couple of key items can help resolve the lion's share of these issues.

First general rule: Your written communication style and professionalism can go a long way toward inducing unwilling customers to pay up more quickly than otherwise.

Let me clarify these two terms:

Guest Post: Primer on Collecting Late Payments, Part 3

A Primer on Collecting Late Payments, Part 3

In my previous two posts on collecting late payments from customers and business partners I explained what I called the first and the second general rule to getting your money. If you haven't read them yet, and you are interested in getting better in this area, take a quick look and see whether you think following these guidelines can dramatically improve your results. In my experience, they can.

Just to paraphrase/summarize:

* Rule one emphasizes the overall importance of professionalism and good communication.

* Rule two stresses the value of making the payout and due dates a critical part of your formal agreement with the customer.

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