Inc. has a great article for on small businesses getting paid on time. Inc. interviewed me for the article: “Small Businesses Getting Paid on Time.” I work with a number of entrepreneurial clients on their sales and marketing activities–and that extends into how to price, package and collect payment. That’s where the marketing rubber hits the road: Revenue.
As a business owner myself, I have balanced long term relationships with long overdue client payments. Thankfully, I only had to sue once (and won), as strong client relationships facilitated working things out in a mutually beneficial way. That said, as I am quoted in this article–do your due diligence on clients. Avoiding dodgy relationships is the best way to ensure trusting interactions and certainty of getting paid. Managing relationships is critical to managing cash flow.