{"id":408,"date":"2013-01-17T08:00:15","date_gmt":"2013-01-17T13:00:15","guid":{"rendered":"http:\/\/sakanashiandassociates.com\/blog\/?p=408"},"modified":"2019-04-03T07:57:03","modified_gmt":"2019-04-03T11:57:03","slug":"thoughtful-thursdays-do-your-customers-think-your-terms-are-net-never","status":"publish","type":"post","link":"https:\/\/sakanashiandassociates.com\/blog\/2013\/01\/17\/thoughtful-thursdays-do-your-customers-think-your-terms-are-net-never\/","title":{"rendered":"Thoughtful Thursdays &#8211; Do your customers think your terms are Net: NEVER?"},"content":{"rendered":"<p>It is a age old problem and not likely to disappear anytime soon. Let&#8217;s face it, some people like to hold onto their money for as long as they can, even if they have previously agreed to part with it.<\/p>\n<p>Today&#8217;s thought is about getting paid on time.<\/p>\n<ul>\n<li>One of the first steps is&nbsp;to communicate to your Terms and Conditions of Sale to the customer. If you do not have a policy, it would be a good idea to&nbsp;develop one. Make a habit of letting each one of your customers and prospects. Don&#8217;t keep it a secret, they need to know.<\/li>\n<li>When an account is overdue, make the call, let the customer know that payment is overdue and request payment. Get a commitment and document the call.<\/li>\n<li>Do not continue to ship to or provide services to&nbsp;customers who have overdue accounts.&nbsp;Wouldn&#8217;t you love to have a supplier who keeps filling your orders without asking for payment?<\/li>\n<li>Set credit limits for each customer and review on a yearly basis.<\/li>\n<li>Address the&nbsp;situation quickly. The longer you wait, the more difficult it becomes to resolve.<\/li>\n<li>Document all communications, creating a paper trail that can be referred to if necessary.<\/li>\n<li>The reason they get will away with it is because you will allow it to happen, so don&#8217;t let it.<\/li>\n<li>If you know that payment is going to be slow, factor in the cost of money into your prices.<\/li>\n<\/ul>\n<p>Having customers is good, but not if they do not pay you on time. Remember that you are not in business to finance your customers unless you are a bank and that is what you are doing if you allow them to owe you beyond the accepted terms.<\/p>\n<p>Not respecting the cost of money can spell an early departure from the market place if left ignored.<\/p>\n<p>What do your suppliers do if your payments are late?<\/p>\n<p>Good selling,<br \/>\nRichard<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is a age old problem and not likely to disappear anytime soon. Let&#8217;s face it, some people like to hold onto their money for as long as they can, even if they have previously&#8230; <a href=\"https:\/\/sakanashiandassociates.com\/blog\/2013\/01\/17\/thoughtful-thursdays-do-your-customers-think-your-terms-are-net-never\/\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[30,12,21,29],"tags":[],"class_list":["post-408","post","type-post","status-publish","format-standard","hentry","category-accounts-receivable","category-business-management","category-business-skills","category-finance"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/comments?post=408"}],"version-history":[{"count":6,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/408\/revisions"}],"predecessor-version":[{"id":3471,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/408\/revisions\/3471"}],"wp:attachment":[{"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/media?parent=408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/categories?post=408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/tags?post=408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}