6 Guidelines for Effective Credit Control

6 Guidelines for Effective Credit Control for Subscription Services:

 

  1. Take payment up front if you can. Otherwise you could be providing the service for nothing if the customer cancels early.
  2. Take a deposit. This can be in addition to or as well as a “set up fee”.
  3. Try to obtain the client’s card or bank details so you can set up a regular means of payment, preferably by direct debit.
  4. Stipulate your credit terms, and stick to them. If your invoice says “Due on receipt” then chase immediately.
  5. Do not let arrears build up, as one month’s arrears can easily become three or four.
  6. Do not overlook a payment that a customer might have missed for one month.

Hiring Now!

Hiring Now!

How many organisations are saying that at the moment? A lot more than before, but what’s stopping even more from doing so?

No organisation takes on staff unless they really need them but if you want to grow your business then sooner or later you’ll have to employ somebody. If you’ve ever read “The E-Myth” by Michael E. Gerber then you’ll know exactly what I’m talking about. If you haven’t read it then you might find it will change you and your business.

If, on the other hand, you haven’t got any plans to grow your business then think about what your competitors are doing. A business is like a tree in the forest. If you’re not growing then others are, and slowly they will grow around you, taking away your light and nutrients. They may not even allow you to progress beyond the seedling stage.
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