Bad Clients

Q.:  I own a pet-sitting business. Can I charge interest to my clients if they don’t pay within, say, a month? A.:  You cannot charge interest – and expect them to pay it — if you have not previously notified your clients that you will do so if payment is late.  That’s changing the terms […]

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Post image for Getting Paid in a Tough Economy

Cash (flow) is king, especially in a challenging economy. But there are ways you can ensure that you get paid in a timely manner.  Jamie Herzlich’s article in Newsday gives some handy pointers, including: Staying on top of unpaid invoices Developing a system for handling them Putting payment plans in place ASAP (if full payment […]

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Q.:  I own a small hair salon. A customer recently received services, then said she forgot her wallet and would return later in the day with her payment. She never came back. She has done business with us before but is not a regular customer. What are my steps on how to collect money from […]

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Post image for 3 Online Business Mistakes to Avoid

Despite the popular myth, cyberspace isn’t the Wild West. Know the rules and protect yourself. You have a brilliant idea at 3 a.m on a Saturday. You turn on the computer, access the internet and register your domain name. Over the next 24 hours, you set up a PayPal account, get a template website, slap up […]

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Post image for Extending Credit to Customers

More naches and brag–this time on the issue of extending credit to customers. See Melanie Lindner’s piece in Forbes.com on “How Much Credit do Customers Deserve?” She and I talked about the changing economic climate (euphemism) and whether it made sense for businesses to extend credit to customers. Whenever you extend credit (which occurs any […]

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You provide your services 7 weeks late without explanation You don’t have the expertise to do what the client wants You share the client’s confidential information on Twitter You overcharge the client for “miscellaneous expenses” You filch someone else’s digital photos and upload them to your client’s website You don’t listen to what your client […]

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Post image for Basic Training: H is for Heaven, Send Me a Nickel . . .

If I had a nickel for every time someone told me that he or she did something business-related with a friend/acquaintance and it ended disastrously, I’d be writing these blog posts from my trans-oceanic yacht. The moral of the story (in case you’re pressed for time): Whenever you are hiring someone (or being hired) to […]

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Post image for The Top 10 Lies Clients Tell You

OK, I’ll confess that my feathers are a little ruffled today (maybe a case of a bad night’s sleep), but seeing Guy Kawaskai’s Top Ten (Sixteen) Lies of Lawyers just stuck in my craw. I can handle lawyer jokes just fine, but after seeing so many entrepreneurs shoot themselves in the foot because they were […]

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