How to not lose your money during #Corona (#Corona Advice 2)


“It’s sad because it’s true”.

In your ideal world, your customers would treat you with respect, tell you the truth and - most importantly - pay you!

T.E.A.M. would also mean “Together Everyone Achieves More”.

We should all cooperate. We should all help each other.

But - we do not live in an ideal world.

As certain as night follows day, many of your customers will try to not pay you. Not now. Not ever.

So, how do you be a good person and help others, but not be exploited?

Here are some quick tips to get you paid and maintain your conscience -

  • First, determine whether your generosity to your customer will harm you and yours.

For example, how can you be sure to receive deferred payment – and if you don’t, will you need to terminate any

employee/s?

  • Second, determine whether your customer is being genuine.

For example, everyone can spin a hard-luck story, but has your customer done this with you before? How did that work out? Has your customer done this with anyone else?

(Hint – if you are not their first supplier of whatever goods or services you provide, there is a good chance that it did not work out well with their last supplier; and how will you be different?).

  • Third, determine how you will ensure that your customer pays you as they have promised.

For example, often an initial payment is made. But in trying to reach an agreement, you need to ensure that

payment will be made - in full and on time - as promised.

Hindsight has 20/20 vision. But you need foresight. Use these tips and other strategies to protect your money.

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