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How to Collect Payment

 
Collection Tips for Business Owners
by Michelle Dunn

Let your customer know the terms of sale when you make the sale or at the time of the
order.

Customers are usually happy to comply if they see your stated credit terms right from the
beginning.

Send a friendly reminder notice.

Many businesses pay 90-120 days after purchase.  Send a reminder notice to speed up payment.
E-mail or fax is a fast, good way to touch base with a slow paying customer.

Make a phone call.
You should always assume payment has been made and ask, “When did you send your check?”  Then
don’t say anything; let them break the silence, no matter how long it may seem.

.

Pick up the payment in person.
Once you show up in person to pick up a payment you should never have to pick up a payment
again, if your customer has every intention of paying.  If you repeatedly have to go to their
place of business, you may want to put them on a COD basis.
http://www.michelledunn.com/
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