Getting paid, like you would figure is vitally fundamental at your business because if you do not get paid, why are you in business?

You will be surprised at the heaps of business people who have their clientele to simply pay when and if they get on with it. I know one tradesman who repeatedly makes bad debts like accolades. Why, do you think? Simply because he doesn’t bring himself to ask for the money and people overpower him.

If you give somebody credit, do it only if they have cleared their worth to you by paying cash on delivery (COD) for a time. Secondly, you must gauge whether they have the funds to pay you - otherwise do not do business with them. Don’t fool yourself into the pattern of “I need the work” or “I need the sales”. It’s damaging in doing the work or providing the goods for nothing if you don’t get paid.

If you are the sort of person who can’t ask for the fee after the service has been finished, try these ideas:
Tell your client that when all the work is done with, you require cash or cheque. They should more than likely have it to hand over at the transacation and you don’t have to demand your fee.

When sending out an initial quote, be sure your payment terms are clear.

Do up an invoice that has your terms of payment plainly listed and give the client the invoice when the task is completed. They should take the invoice and generally understand they should pay for it now without you being required to say anything. Fabricate an “evil boss” who will flay you alive if you can’t go back with the cash for the work.

Ask your banking to set you up with Merchant facilities so you can use credit cards for example Mastercard and Visa. Most people possess credit cards and it will solve the issue of the client not owning a cheque account or not having the right amount of cash on hand.

As another option, don’t be persuaded against to hold your goods til after you have been paid. Know, until the goods have been paid for, they remain yours.

If you plan to let someone credit, be sure you get the following contact information off them at a time BEFORE you let them credit.

• Name
• Address
• Phone number
• Bank name and address
• Account no.
• 3 trade references with their names, addresses and phone numbers

When you record all this detail, contact the bank branch and make certain that they do operate an account with them. Then, contact every trade reference and request if they pay their fees on time or if there have been any problems with them.

Most people will be willing to tell you if the person is troublesome. If everything is OK, allow them a moderate level of debt, say no more than $500 (depending on your business). Monitor the operation of the account for a few months before allowing this amount to be exceeded.

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