The Simple Way to Get Your Clients to Pay on Time

Рет қаралды 11,625

7 ай бұрын

The Simple Way to Get Your Clients to Pay on Time
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Пікірлер: 32

@plannerjoy 7 ай бұрын

Thank you, Dave. It’s emotionally draining when customers don’t pay. Some customers think that paying the last 10% is optional. As a small company, we no longer work with buildings managed by Property Managers because they have an access to an attorney on retainer and we don’t. I learned the hard way that most attorneys won’t even speak with me when I tell them that I’m attempting to collect $10k. As a small business owner you need to develop a sixth sense because 20% of the population are entitled jerks and we need to learn to sense their entitlement and remove ourselves from them. It cost me about $20k to learn that lesson, about half of the cost of my MBA program I enrolled in after paying dearly for the school of hard knocks.

@floresnashvilledrummer 5 ай бұрын

"Not some corporate weenie". Dave has a way with words! 😂

@tannersteinborn7487 7 ай бұрын

I'm in the same business. Card on file charged after every cut is the only way to go

@josdomam 7 ай бұрын

Why are you taking credit cards as form of payment? You are a Dave Ramsey follower for God's sake. Cash only.

@adamsingh2328 7 ай бұрын

Trying to move all our customers to card on file by 2024

@lushlawns8904 7 ай бұрын

We do the same thing

@lushlawns8904 7 ай бұрын

@@adamsingh2328if they don't want to drop them. You can fill the spot.

@georgewagner7787 7 ай бұрын

What's that mean?

@zynth123 3 ай бұрын

In the Netherlands it's quite standard to pay by card immediately when the work is done. Since it's now easy to accept card-payments via mobile devices. They write the invoice at your kitchen table, and you pay them right there and then.

@lukasbryant9881 7 ай бұрын

Man! Thank you, Dave. The demonstration of character and kindness is refreshing. I doubt there's many people out there who have clear, kind, character driven business practices.

@iseepandas1 7 ай бұрын

And you’ll still get that one customer that does a chargeback for no reason..

@crossfitruston3632 Ай бұрын

…and the bank sides with them every time, even with a contract

@nhgriff1 7 ай бұрын

Love the Entreleadership episodes.

@therealdavidtrotta 4 ай бұрын

We have large government contracts, we use a factoring service to get paid when we invoice, they take a very small percentage less than the POS system at our retail, you get access to 80% of your voice the other 20% when the invoice is paid. Was a game changer for us as a catering company starting to take on bigger longer term contracts

@jugendamthamburg-ggkonform381 7 ай бұрын

I live in Germany and due mostly to lowered income and increase housing expanses for the drastically shrinking middle class the practice of selling goods and services often on pay after getting the invoice after the service or goods are deliver has to be modified. SO, what worked usually in the past cannot be used any more. People are really having unreliable income and families are more split and some having double living costs. Young people can usually no longer save up to buy homes so there is less equity. I hope German and US businesses adjust accordingly and do not shy away from asking for prepayment and collateral. We have to stop giving out credit as the small business owner. Giving out credit is to go to financial intermediaries who are specialized in pooling certain risks. Perhaps business owners can have a financial intermediary to whom they can refer their prospective customers (and maybe even get a little commission) so if the customers really want the service or object they will deal with that financial intermediary.

@lxc3909 Ай бұрын

This caller says "basically" a lot!

@coderider3022 23 күн бұрын

I had a client that wanted 4 month payment plan after the work was completed - client knew costs 6 months before I started the work! Soo annoying, it’s strictly 30-45 days payment otherwise I’m done.

@johnpapa8681 7 ай бұрын

I never let customers run up a big balance. I collected after each job.

@georgewagner7787 7 ай бұрын

My brother sold tools to garages and the business failed bc of this. One guy even took off for Florida and didn't pay

@michaelpalumbo4880 7 ай бұрын

How to know if someone is a good credit risk - oh, IDK, how about running their CREDIT SCORE?!?!

@asafry2873 29 күн бұрын

Haha

@elpatron7916 29 күн бұрын

You put a lien on the property 😢🎉🎉🎉

@marinemarine8305 7 ай бұрын

Then why are you allowing people to mention investment sources for free in the comments section???? You should prevent this. If someone uses this investment source or crypto person and they fail they can say they saw it on the Ramsey show. Be aware. READ YOUR COMMENTS.

@georgewagner7787 7 ай бұрын

Those are scams. Anyone who chooses an investment advisor from yt comments doesn't have any money to begin with

@carterwgtx 7 ай бұрын

I work in consulting, and there’s definitely clients (predominantly in real estate development and private equity) that go into projects planning on not paying their contractors. (Not to get political but Trump in the northeast was famous for exactly this-I know two people who were stiffed by him on big projects in upstate New York - the guy has always been a crook). Selecting your customers is very, very important.