How do you get someone to pay on time? I’m sure that’s a question that all business owners would like to know. Well here’s the secret…Ready for it? K, here it goes to you…wait, I had an itch on my foot. Ok, I’m ready.
The secret to getting someone to pay on time is to 1)stress to them how important it is in order to receive whatever they want from you they need to have the money ready.
That’s it. It’s called quid pro quo. Latin for ‘this for that.’ If you give them what they want ahead of time, then it’s almost pointless to pay you on time, because they already have what they want…WITHOUT PAYING FOR IT!
This just happened to me. I’ve been doing some Customer Service Training for a client and they usually like to pay me a month or two after I finished my training. That sucks ’cause I have bills to pay, but I spent a great deal of my time training. On top of that, I need to work with my other clients and make additional money just to barely scrap by. Talk about being tough on a business owner.
