How do I find a good employee? How do I talk to the bank? How do I expand my business?
On this segment of Dirty Secrets of Small Business , Jack Mencini and Adam Sonnhalter discuss the biggest secret that small business owners are stuck in the state of HOW. As business coaches for Maximum Value Partners, they deal with their clients in helping them address these HOW questions and chart them on a path to sustainability and profitability.
They invite you to call in with your HOW question for them to ponder with you.
How do I get a customer who is late on payments finally provide payment to me? The first framing is are you doing business with them currently or in the past? Do you want to keep the client?
Depending on the answer, you may want to go down and sit with them and stop giving them credit. Discuss with them a plan with providing a future schedule of payments that will work for them and work for you. Jack and Adam advise that you get paid for the service or products you and your business have provided. Try to establish a COD going forward with a little more to cover the past funds owed.
For more information and to listen to the entire podcast and more details on this HOW question, access the podcasts on iTunes or here.
If you have a success story or a question you would like to share, email or call (email@example.com or 877-849-0670). You can also call into during the show each week at noon (EST) – 1:00 pm on WINT 1330 AM, call 440-946-9468 to ask your question to the Maximum Value Partners’ coaches!