Five steps to make sure that you get paid

Follow sound procedures

Avoid offering credit

Accept credit card payments

Be choosy in extending credit

Check creditworthiness

Create efficient systems

Be efficient and prompt at invoicing

Use e-commerce if possible

Set shorter terms

Eliminate statements if possible

Get on to problems early

Follow up unpaid invoices promptly

Stick to your terms of payment

Cut off credit if necessary

Set debt reduction targets

Avoid these common traps

Beware of large orders

Danger of the single customer

The new business target

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