Starting a new business is going to be difficult in the current economic climate. However, there is no reason you shouldn’t experience success if you have the right concept and you perform enough research. At the end of the day, there are billions of people in the world, and so there is bound to be a market out there for you. That is the case, regardless of what products or services you might sell. For that reason, you just need to keep chipping away until you achieve the level of sales you need.
One of the most-important elements to your success will be ensuring your customers and clients always pay their invoices on time. In this article, we’re going to present you with some great tips and advice that should help you to make sure that always happens. The last thing you want to do is waste a lot of time chasing clients from all over the world. So, you should pay attention and implement our ideas.
Send invoices with time to spare
Some companies are just a little slow at paying their suppliers, and so you should always send your invoices with lots of time to spare. Most business owners would give their clients one week to pay, but you can do a little better than that. By allowing your clients fourteen days, you should find that more of them pay on time.
Offer round the clock customer service
You might have a lot of clients that operate from different countries, and so you could suffer at the hands of time differences. To combat that issue, you should aim to offer round the clock customer support. That way, people can get in touch with you at any time to discuss issues they may be having with payment. Perhaps they need a few more days, or maybe you’ve charged them too much? Either way, you’ll get the problem sorted much quicker if they can get in touch with you easily.
Write friendly reminder emails
If a client misses their payment date, you should always give them a couple of days before getting in touch. Some of them will simply be running a little behind, so the last thing they need is hassle from you. Even so, you should send a friendly reminder email if the payment is more than three days late. There is no need to sound forceful. All you have to do is mention the fact that the invoice should have been paid, and offer assistance if they are having trouble. Opting for a friendly approach like this will ensure you don’t lose the client.
Sell the debt
Presuming you’re getting nowhere and the company refuses to pay, you can simply sell the debt onto a collector. While you will lose a bit of money doing that, you will still claw some of the cash back. Collectors with use a basic people search to locate the other party and start negotiations. Once the debt has been sold onto a collector, you no longer have anything to do with what happens.
So long as you follow all that advice, you should find that your clients start paying their invoices on time. We wish you every success in the business world, and hope you make a large profit in the first twelve months.
See you back here soon!