Do you ever feel so frustrated when you are owed money and the client is just not paying? I am sure all business owners come up against this situation in the course of the year.
We are fairly fortunate in that we have a good client base and most are really good about paying us, but you get the odd few.
Just before Christmas, I had some really tricky clients not paying. For one of them, we had set up a DD and then it was cancelled and they said they’d pay via BACs…and this went on and on, with us sending them overdue invoices and telephone reminders.
I then attended a networking meeting and was expressing my frustration when one of the ladies there (thank you Lucy Pitts!) suggested I contact a Debt Management Agency she had been working with on their website.
I duly contacted them and hey presto, they were brilliant! They somehow collected the monies and even a tiny amount due of £27 from a difficult client who just would not pay his final instalment.
What I have discovered is that if you tell a client that you will be putting it ‘in the hands of your debt management agency’, they soon cough up!
So the moral of this story is that networking works and you can get your clients to pay!! It’s not just about gaining business, but sharing ideas, talking to businesses that can help your own business AND sort out those pesky non-payers once and for all, by ‘threatening’ them with legal action and then actually putting it in to action if they don’t pay…it has certainly worked for us!