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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:

Negotiation 101

On Machiavelli

During a call with Sebastian Marshall, we discussed negotiation skills and other similar issues. I came up with a basic one-page document with the 101 about negotiation. Find it below:

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Negotiation

Definition

Negotiation is a method by which people settle differences. It is a process by which compromise or agreement is reached while avoiding an argument. In any disagreement, individuals understandably aim to achieve the best possible outcome for their position (or perhaps for the organization or team they represent.) However, the principles of fairness, seeking mutual benefit, and maintaining a relationship are the keys to a successful outcome.

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