One of the biggest things that a small business owner can learn from a larger business is how to handle disasters. Well, what might be considered disasters for small businesses? For example, if a client neglects to pay their bill to a large company, it doesn’t hurt the large company; they’ll take their time getting the money, but they know they’ll get their money.
When it comes to small business owners, that one client that didn’t pay could potentially be detrimental to the business. It could cause a nasty domino effect that could make it hard and get out of hand. It’s all far from ideal; truly, it is, but even with that being the case, you still need to stay calm and just keep your cool. But how? While it might be easier said than done, here’s what you can do.
Keep Communication Open
When a client misses a payment deadline, you’re going to want to try and resist the urge to immediately escalate the situation. Instead, initiate a respectful and courteous conversation to inquire about the status of the payment. You might be screaming internally while writing the email, but you can’t express how you actually feel (even though we all really want to).
Instead, you’re going to have to express your concerns calmly and seek clarification on any potential reasons for the delay. This absolutely has to be done, so by maintaining open lines of communication, you demonstrate professionalism and give the client an opportunity to address the issue promptly.
Photo by Karolina Grabowska
Send Polite Reminders
The clock is ticking, and maybe it’s even been weeks past the due date for the payment. Well, in any case, while you might be beyond furious (and who wouldn’t be), you’re still going to have to remain calm and polite. Showing aggression isn’t going to get you anywhere; you’re not a mob boss; in fact, it could land you in trouble if you were to show any aggression.
Whether it’s by phone or email, you’ll need to clearly state the outstanding amount, payment due date, and any applicable late fees or penalties. Just try not to do anything that could create tension, at least for now.
Photo by Monstera Production
Seek Professional Help
Sadly, there are some “businesses” that will test small business owners and see how far they can go. It’s like dine-and-dash but for the business world. It’s far from ideal, but that’s how it is sometimes (it’s a dark reality even for the professional world). But you don’t always have to go about this alone. You can always hire a lawyer or even reach out to a money recovery agency to help you out.
Just think of it like this: you’re losing out on money for a product or service you create for a client. At this point, they basically stole from you, and you deserve something for your hard work. You’re probably angry and feel like you’re going crazy because of how cheated out you got. That’s why having some help from professionals could get you back on track with your business.
One of the biggest things that a small business owner can learn from a larger business is how to handle disasters. Well, what might be considered disasters for small businesses? For example, if a client neglects to pay their bill to a large company, it doesn’t hurt the large company; they’ll take their time getting the money, but they know they’ll get their money.
When it comes to small business owners, that one client that didn’t pay could potentially be detrimental to the business. It could cause a nasty domino effect that could make it hard and get out of hand. It’s all far from ideal; truly, it is, but even with that being the case, you still need to stay calm and just keep your cool. But how? While it might be easier said than done, here’s what you can do.
Keep Communication Open
When a client misses a payment deadline, you’re going to want to try and resist the urge to immediately escalate the situation. Instead, initiate a respectful and courteous conversation to inquire about the status of the payment. You might be screaming internally while writing the email, but you can’t express how you actually feel (even though we all really want to).
Instead, you’re going to have to express your concerns calmly and seek clarification on any potential reasons for the delay. This absolutely has to be done, so by maintaining open lines of communication, you demonstrate professionalism and give the client an opportunity to address the issue promptly.
Send Polite Reminders
The clock is ticking, and maybe it’s even been weeks past the due date for the payment. Well, in any case, while you might be beyond furious (and who wouldn’t be), you’re still going to have to remain calm and polite. Showing aggression isn’t going to get you anywhere; you’re not a mob boss; in fact, it could land you in trouble if you were to show any aggression.
Whether it’s by phone or email, you’ll need to clearly state the outstanding amount, payment due date, and any applicable late fees or penalties. Just try not to do anything that could create tension, at least for now.
Seek Professional Help
Sadly, there are some “businesses” that will test small business owners and see how far they can go. It’s like dine-and-dash but for the business world. It’s far from ideal, but that’s how it is sometimes (it’s a dark reality even for the professional world). But you don’t always have to go about this alone. You can always hire a lawyer or even reach out to a money recovery agency to help you out.
Just think of it like this: you’re losing out on money for a product or service you create for a client. At this point, they basically stole from you, and you deserve something for your hard work. You’re probably angry and feel like you’re going crazy because of how cheated out you got. That’s why having some help from professionals could get you back on track with your business.
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