Don't be afraid of your customers

Some business owners have had their business for months or even years and when I give talks about credit policies, credit limits, and credit applications, they say, “I never did any of that and I have so many customers that owe me money and are past due.”  Many think it is too late to do anything about it, or they are afraid to ask a customer for the money or ask them to fill out a credit application.  

They think they will make the customer mad and lose the business.  If the customer is past due or not paying you, why do you worry about alienating them?  This is a customer you do not need.  If someone is not paying you, they are not helping you.  Wouldn’t you rather have a customer that pays you? Stop working for free.

If you have customers that owe you money right now, today, you can and should do something about it.  Add up how much money is past due or is not being paid, the dollar amount will shock you.  Now is the time to take action!  I am going to list some action tips in my next few columns that you and every business owner can take to start making more money by collecting what is owed to you.  Do not wait, you are in business to make money.

Bio

Michelle Dunn is an award winning author and columnist frequently featured in the Wall Street Journal, CNN and Forbes. Look for her newest book being released in May by Wiley Publishing titled, "The Guide to Getting Paid, weed out bad paying customers, collect on past due balances and avoid bad debt, available for pre-order now on Amazon.