Weekly One-minute-tip: About Money image

Weekly One-minute-tip: About Money

On Money... Getting paid (always a good start)

(Click on the image to watch the video instead)

Here is your Just Do This One Little Thing tip for the week

 
 
One-Minute-Business-Tip: This week, a really cool thing to do to help you get on top of the finances in your business is about how to make sure you always get paid: (Click on the image to watch the video instead)

Activity: I've mentioned before that collecting cash and implementing a collection system is a crucial step to improving your cash flow in your business and lowering your stress.

The last step in any debt collection system is to send the debt to a debt collector. The problem is that most small business owners never take this last step because they think it's expensive.

So this week's "one little thing" is: Find a debt collection agent, ask around or google, have a chat to them, understand how they work.

And then do one more really simple thing: In your standard terms and conditions, add a condition that says this:

"All debt collection costs will automatically be added to overdue accounts"

That one sentence will change the ballgame entirely, I guarantee it.

 

Do this one little thing this week and you'll be surprised how this one simple sentence in your quotes is going to make a difference to your cash flow.

That's all for this week.

Tune in next week Friday for another Just Do This One Little Thing email

You can find all published tips on my website here 

 

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