Many of us may not WANT to be in the finance business, but we are if a client takes extended time to pay. Though we should try and break their habit, all at once or perhaps over a few months, you can still make the best of a bad situation.
In working with a great group in Dubai last month, one of the members of the team described how a valuable client was habitually several weeks or more past due AND looking for a discount. He did some quick calculations and pointed out that by not paying according to terms, he was ALREADY receiving a discount.
This month’s pithy quote:
“When fate hands us a lemon, let’s try to make lemonade.”
Dale Carnegie (1888-1955)