30 ways to get paid within 30 days: No.29.

Here is blog post number 29 about getting paid by your customers. This material is taken from the article, “How to Collect from Anyone (Even Enron)” found in Inc. Magazine.

Way to get paid #29: Follow The Money: You’re in payment discussions with a CEO. You’re thinking that you’ve finally knifed through the red tape and made your way to the person who has the authority to pay you. Don’t be fooled. Sometimes even CEOs have little choice about where their company’s money goes. Some CEOs, for example, face dire financial consequences if they don’t periodically pay down their credit line. Other CEOs don’t even call the shots — they might be indentured to a group of equity investors with a majority share of the company. That scenario is especially common if you deal with high-tech start-ups. In either situation, include the company’s powerful financial entities in your collection efforts. For instance, let’s say that the contact person at your customer’s company breaks a promise to you. When you follow up with that person by E-mail, “cc” not only the contact’s supervisor or CEO but also the company’s banker or investors. If taking that step seems severe, then don’t do it — but you can certainly threaten to do it at a later date if the customer continues to break its commitments.

photo credit: Metropolitan Museum of Art Fountain in New York City via photopin (license)


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