A perfect collection agency for small business? Yes please!
These operations count on positive cash flow simply to survive. They aren't backed by millions of dollars. Only a third of them even use (or have access to) business credit. Every dollar counts and you don't have the time, expertise, or resources to handle time consuming collections yourself. Don't get mad, frustrated, or let your business fall apart while you chase after non-payers. You can win at this game.
"Only 50% of businesses survive the first 5 years and in 2009 a small business went bankrupt every 8 minutes."
If your a small business and you want to stay in business or you are a freelancer and you don't want to prep your resume and return to a 9-5 you had better pay close attention to protecting yourself from losses.
Too often small businesses...
1.) don't do enough before the sale/engagement to qualify customers.
2.) don't have a contract stating the terms, or use a poorly worded agreement that lacks crucial clauses to protect themselves effectively.
3.) don't invoice properly and don't follow up quickly or often enough when invoices go cold.
4.) lack quality contact information and are unable to locate the debtor.
5.) write off losses simply because someone doesn't pay as they are supposed to.
6.) waste time or company resources by chasing payments ineffectively.
7.) feel as though somehow they themselves have done something wrong.
8.) accept excuse after excuse until the owing party finally ceases communication.
9.) waste time and money in small claims court only to realize they still won't get paid.
10.) fail to get help from a professional early on in order to maximize debt recovery and focus their time on new/paying customers!
When your small business lacks the time and expertise to stay on top of your account receivable management and collections you need help. Cambridge Receivable Solutions specializes in helping businesses like yours be able to minimize your losses in a cost effective way. We share our extensive experience, tools, professionalism, and persistence with your business so you can maximize your profit risk free.
Here is a DETAILED MENU of the services we provide for all small business, professional services, and creative freelancer clients.
Don't hesitate to e-mail or give me a good old fashioned phone call to discuss your past due invoices. I have an open door policy and love talking to people about my area of expertise which is getting the good guys paid!! I'll do what I can for you regardless of it you need us this time or not.
Have a look at our services page for more info.
Contact the Author:
President & Principal Consultant
Cambridge Receivable Solutions, LLC
New Clients: 636-487-0986
Toll Free: 1-888-908-3905
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