If you’re a small business owner who operates on credit, than you know all too well what it feels like when a payment date passes and you still haven’t received your check. To get paid, you have to confront the customer.
However, this communication is crucial, so make sure when an account is first past due, you follow these 8 do’s and don’ts to reach out to the customer successfully.
“¢ Do send a letter first – When the payment date first passes, immediately respond with a reminder letter.
“¢ Don’t send a generic letter – Don’t send the same letter to all customers.…
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Starting a small business is hard. And in today’s economy, getting the most for your money often equates to the creative distribution of your financial resources.
Starting a business is an exhilarating time. It can also be a very stressful and busy time. As a local business owner, you often end up wearing all of the hats (CEO, Accounting, HR, Marketing, etc.) in the beginning due to lack of funding early on.
In any business – small or large, good or bad economy – internal theft or employee fraud can occur. Actually, in my experience, I have seen more employee fraud occurring in small to medium-sized businesses because there is a greater level of trust, a less formal process at times, greater familiarity with each person in the company, and a greater breadth of duties for each employee.
Credit cards can be a wonderful business tool. They allow you the flexibility of easily using credit to make purchases under the promise that you will pay back the money that you borrowed on credit. Credit cards are a great tool for consumers and for regular small businesses. They give you easy access to credit and allow you to focus on what is most important for you in your business and in your personal life.
