#164 How to ensure you get paid!

Welcome to another insightful episode of the Let's Talk Money and More podcast with your host, Lesley Thomas.

In today's discussion, we're diving into a topic many business owners shy away from, yet it is one we simply cannot ignore: ensuring you get paid on time. With late or unpaid invoices becoming increasingly common, I'll be sharing my top strategies to handle these situations with confidence and prevent them from recurring in the future. From setting clear payment terms from the outset to knowing when and how to escalate matters if necessary, we will cover it all. So, whether you're grappling with delayed payments or wish to fortify your systems for seamless financial transactions, this episode is packed with practical tips to help protect the financial health of your business.

Stay tuned as we explore how to manage these challenging conversations and establish financial boundaries that work for you.

Key Takeaways:

• Set Clear Payment Expectations: Establish crystal-clear payment terms from the start of your client relationships. Transparency helps prevent the dreaded ‘forgotten’ invoice.
• Prompt and Professional Invoicing: Consistently invoice your clients promptly and professionally. A reliable invoicing tool can aid in tracking payments and sending automatic reminders.
• Don’t Shy Away from Difficult Conversations: If payments are delayed, have the conversation. Stay calm and professional, and consider offering revised payment plans if needed. Always prioritize understanding and empathy.

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