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Credit Control is the antidote to Late Payment and problem customers. Are you fed up of people not paying you on time? Late payment is still a big obstacle to the survival of small businesses. Did the story about Tesco knowingly delaying payments to suppliers make your blood boil? Then today’s episode is for you.
Today I am lucky enough to have Rita Adams of ARM Credit Control as a guest on the show.
This lady travelled from her native Austria to make a mark as a business owner in the UK and she recounts how speaking German gave her an introduction into the world of finance, by accident.
She has set up credit control systems for international organisations but now concentrates on helping small to medium sized independent companies get better at collecting the money from their customers and keeping the cash coming in.
You will also hear
- How she started her business from a spare bedroom with one client.
- Why it is her focus on good customer relations that set her service apart from the competition.
- The criticism she got for her softer method of dealing with customers
- How simple flowcharts and tips sheets changed the game for lots of her clients
- How she competes with the larger established players in the financial industry, when it would be easy to be intimidated
- Why customers with bad experiences make great clients
- Tips for getting the money in from difficult customers
- Why focussing too much on selling is one of the biggest mistakes business owners make
- The key question she asked a clients’ customers that recovered all their outstanding money
- Why profit and cash flow is actually not the most important aspect of managing business finances, and what is.
- Her launch of an online product for end users called “Payment Please” in the summer.
Disclaimer
This show, or any resources mentioned, is not a substitute for obtaining proper financial and or legal advice from a qualified professional who is familiar with your specific situation. Also be aware that the information contained may not be suitable for every person or organisation.
[spp-tweet tweet=” Credit Control doesn’t begin when an invoice is late. It begins when you make a sale “]
Guest Links
Show Links & Resources
How to avoid problem customers – video & blog post
Getting Your Customers to Pay You Quicker – video & blog post
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http://serialpodcast.org/how-to-listen (This is brilliantly done)
