Money Feeds Business

One of the common queries we have at BCA is in regards to clients maintaining their customers if they send them to the debt collectors.

It is a rather emotional dilemma, having customers that don’t pay on time or are late payers makes it difficult to operate a business successfully. 

Money is the food that feeds your business

If you are not continually feeding your ever hungry business, it will end up loosing its energy and become sick and unable to function properly.

Do you as a business owner run the risk of losing a customer who may have the potential for future earnings? 

There is a fine line between a good customer and one that steals your food.  Especially if you operate on an overdraft, pay for products upfront or hire staff.

We advise to create a system that clearly defines the steps you will take to recover your money.  Then send this to your customers as soon as they are out of your terms. Most people will respond to this and at least they will know what is going to happen. 

If they still don’t pay your final step in your system should be to send the account to the debt collectors.

Once you get to the point of sending them to the debt collectors you should really be considering if they are a viable customer.  However there is nothing to say that once they have paid the debt that you cannot revise their terms and conditions and continue doing business with them.

If you provide good products and services you should not worry about the risk of losing the customer.

Contact Bouvard Collection Agency