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Are Your Customers Not Paying You? Here’s What To Do

Are Your Customers Not Paying You? Here’s What To Do

Update: 2019-04-24
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There are few situations more frustrating for a small business owner than a customer who refuses to pay on time. But, as tempting as it might be to confront your client and exchange some harsh words with them, this type of behavior will only make matters worse. So, what is the most appropriate way to handle a problem like this? Gene Marks and Elizabeth Larkin offer a professional yet direct approach for dealing with customers who owe you money.







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Executive Summary

1:46 —Today's Topic: How Do You Deal With A Client Who Won't Pay You?



4:10 —First, find out whether your client has an acceptable reason for not paying you on time.



5:42 —Consider your future relationship with this client before you pursue legal action. If you want to have a long term professional relationship with them, it may be better to give them some extra time.



7:06 —When you can't resolve this issue on your own, reach out to a collection attorney who can pursue this customer on your behalf. However, keep in mind that the attorney might keep a percentage of what the client owes as part of their fee.



10:30 —According to Gene, now is the perfect time for older entrepreneurs to sell their small businesses due to current economic factors.

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Transcript

Elizabeth: Welcome back to the Small Biz Ahead podcast. Today, we have a new question from an old questioner. This is Lorie from Easthampton, Massachusetts, wrote in two questions. So we answered her first question last week, and we're gonna answer her second question-



Gene: This is the one that's gloating over the Patriots' win, right?



Elizabeth: No, no.



Gene: This is the one that's the ... right?



Elizabeth: That was you.



Gene: She's the one that's arrogantly walking around with all these world championships.



Elizabeth: Just 'cause she's from Massachusetts.



Gene: Yeah, just because she's from ... and she thinks she can just ... not just one, but listen, I'm Lorie from Massachusetts. I'm gonna ask two questions, right? Because I'm a champion-



Elizabeth: This is a good question.


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Are Your Customers Not Paying You? Here’s What To Do

Are Your Customers Not Paying You? Here’s What To Do

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