The Simple Way to Get Your Clients to Pay on Time

[@tannersteinborn7487]

I'm in the same business. Card on file charged after every cut is the only way to go

[@josdomam]

Why are you taking credit cards as form of payment? You are a Dave Ramsey follower for God's sake. Cash only.

[@adamsingh2328]

Trying to move all our customers to card on file by 2024

[@lushlawns8904]

We do the same thing

[@lushlawns8904]

​@@adamsingh2328if they don't want to drop them. You can fill the spot.

[@georgewagner7787]

What's that mean?

[@plannerjoy]

Thank you, Dave. It’s emotionally draining when customers don’t pay. Some customers think that paying the last 10% is optional. As a small company, we no longer work with buildings managed by Property Managers because they have an access to an attorney on retainer and we don’t. I learned the hard way that most attorneys won’t even speak with me when I tell them that I’m attempting to collect $10k. As a small business owner you need to develop a sixth sense because 20% of the population are entitled jerks and we need to learn to sense their entitlement and remove ourselves from them. It cost me about $20k to learn that lesson, about half of the cost of my MBA program I enrolled in after paying dearly for the school of hard knocks.

[@BusyBodyVisa]

You can't take them to small claims court?

[@floresnashvilledrummer]

"Not some corporate weenie". Dave has a way with words! 😂

[@lukasbryant9881]

Man! Thank you, Dave. The demonstration of character and kindness is refreshing. I doubt there's many people out there who have clear, kind, character driven business practices.

[@therealdavidtrotta]

We have large government contracts, we use a factoring service to get paid when we invoice, they take a very small percentage less than the POS system at our retail, you get access to 80% of your voice the other 20% when the invoice is paid. Was a game changer for us as a catering company starting to take on bigger longer term contracts

[@MelCurwood]

Hi Dave :) This is such a great video about a topic that definitly needs to be brought out for open discussion. I love your messaging around 'selling right' or setting the tone of the relationship with open transparent communication about expectationsright from the start. I work with hands on trades and 'blue collar' business to help make sure they are in the best position to get paid. I think your video is fabulous and defintly aligned with the idea that 'we teach people how to treat us' in business just like in life. Thankyou for sharing :)

[@nhgriff1]

Love the Entreleadership episodes.

[@coderider3022]

I had a client that wanted 4 month payment plan after the work was completed - client knew costs 6 months before I started the work! Soo annoying, it’s strictly 30-45 days payment otherwise I’m done.

[@iseepandas1]

And you’ll still get that one customer that does a chargeback for no reason..

[@crossfitruston3632]

…and the bank sides with them every time, even with a contract

[@jugendamthamburg-ggkonform381]

I live in Germany and due mostly to lowered income and increase housing expanses for the drastically shrinking middle class the practice of selling goods and services often on pay after getting the invoice after the service or goods are deliver has to be modified. SO, what worked usually in the past cannot be used any more. People are really having unreliable income and families are more split and some having double living costs. Young people can usually no longer save up to buy homes so there is less equity. I hope German and US businesses adjust accordingly and do not shy away from asking for prepayment and collateral. We have to stop giving out credit as the small business owner. Giving out credit is to go to financial intermediaries who are specialized in pooling certain risks. Perhaps business owners can have a financial intermediary to whom they can refer their prospective customers (and maybe even get a little commission) so if the customers really want the service or object they will deal with that financial intermediary.

[@lxc3909]

This caller says "basically" a lot!

[@johnpapa8681]

I never let customers run up a big balance. I collected after each job.

[@BusyBodyVisa]

Simple solution: charge upfront

[@georgewagner7787]

My brother sold tools to garages and the business failed bc of this. One guy even took off for Florida and didn't pay

[@elpatron7916]

You put a lien on the property 😢🎉🎉🎉

[@buddyryeSE]

When people know that you're new to the industry, they will be tempted to take advantage of your naivety.

[@michaelpalumbo4880]

How to know if someone is a good credit risk - oh, IDK, how about running their CREDIT SCORE?!?!

[@asafry2873]

Haha

[@marinemarine8305]

Then why are you allowing people to mention investment sources for free in the comments section???? You should prevent this. If someone uses this investment source or crypto person and they fail they can say they saw it on the Ramsey show. Be aware. READ YOUR COMMENTS.

[@georgewagner7787]

Those are scams. Anyone who chooses an investment advisor from yt comments doesn't have any money to begin with

[@kathleencooney1518]

Have a card on file & charge them immediately. You can’t stay in business with no pays.

[@carterwgtx]

I work in consulting, and there’s definitely clients (predominantly in real estate development and private equity) that go into projects planning on not paying their contractors. (Not to get political but Trump in the northeast was famous for exactly this-I know two people who were stiffed by him on big projects in upstate New York - the guy has always been a crook). Selecting your customers is very, very important.

[@CJMota85]

What idiodic advice... Talking like a major company when the question comes from a smallfry that considers 10K as a large sum...!

[@danieljohnson4418]

So, basically . . .