7 Tips for Collecting Money in Difficult Financial Times
Image details: Close-up of a man receiving dollars served by picapp.com
Collections Rule #1, as I heard it many years ago: The longer the bill is unpaid, the less likely it is that it will be paid. Here is dramatic visual proof of that rule in a recent Forbes article about collecting money in difficult financial times.
So what do you do to collect money? Here are some practical tips:
1. Start at the beginning. At the beginning of the business relationship, put in writing your expectations of payment and have the customer sign the document. Doctors include a financial responsibility statement in their new patient …read more
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