MYB051: How to collect outstanding money
In this episode of the Max Your Business podcast, hosts Ben Fewtrell and David Carlin dive into the strategies for collecting outstanding money.
They emphasize the importance of effective cashflow management for business owners, touching on ideas such as invoicing efficiently, implementing subscription models, understanding terms and conditions, and maintaining good debtor management.
Ben and David also discuss potential pitfalls like delayed invoicing and relying too heavily on major clients who may have payment issues.
Additionally, they offer practical tips on making collection calls and…
The skinny
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