The cash flow problem that’s ruining businesses
& how to solve it!
A free guide by Jim Connolly
In recent months, I have seen an alarming increase in the number of emails I receive from business owners with MAJOR cash flow problems.  In this special guide, I am going to show you how to eliminate or massively reduce, the damage caused by a primary cause of bad cash flow - Deliberate Late Payers!

Please forward this guide to other business owners & ask them to do the same!

What is a 'Deliberate' Late Payer?
A Deliberate Late Payer is a person who has no intention whatsoever of paying their suppliers on time!  Unlike a client who is a little late paying you once or twice because of a genuine problem, these people set out from the very start to deliberately avoid paying you for as many weeks or months as possible.  They then use YOUR businesses money to fund THEIR business! 

By paying as many suppliers as possible, as late as possible, they have access to thousands and thousands of pounds worth of credit, all interest free!

The end result
Small and medium sized businesses find that they are unable to pay THEIR bills because THEIR MONEY is being used to bankroll another (usually bigger) business.  Every year, thousands of businesses go broke as a direct result of poor cash flow. 

Many business owners go on to lose their homes; some have even taken their lives!

How to protect yourself
There are four steps you can take, which have helped people totally eliminate or massively reduce the impact of Deliberate Late Payers.

Step one:  Sack your Deliberate Late Payers
If a client is deliberately paying you weeks or months late, sack them; (stop working for them!) 

Why?  Because the financial problems they cause you are unsustainable and the amount of time you waste chasing them and listening to their delaying tactics is unacceptable.  Why on earth work with people like that when you can replace them with better quality clients?

IMPORTANT
If you want to learn how to replace your Deliberate Late Payers, there’s a goldmine of superb marketing material you can use RIGHT NOW, 100% free of charge  - click here!

Step two: Check new clients out
If you want to sign up for a cheap mobile phone contract, you will be credit checked by the phone provider first.  However; small businesses are happy to provide thousands of pounds or dollars worth of services to new clients with no credit check whatsoever!

When you give a quote to a new potential client, ALWAYS offer your services “subject to a satisfactory credit check”.  A simple, online credit check costs just a few pounds BUT will dramatically reduce your exposure to bad debt!  It will also show your new clients that you take credit control seriously, making them vastly more likely to pay YOUR invoice on time!

Make your credit check a part of your ‘sales pitch.’  Tell potential clients that the reason you are able to provide such a great service for such a keen fee, is that you have excellent credit control in place.

Step three: Get a good accountant
Accountants understand the way money flows through a business.  A good accountant will help you quickly identify potential cash flow problems BEFORE it’s too late! I give a very good press to the accounting profession, because it is simply impossible to run a successful business without a good accountant behind you.

Step four: Don’t let Deliberate Late Payers bully you
Deliberate Late Payers are often bullies and bullies are usually cowards.  (This is why they blame someone else or get another staff member to deal with you when you chase-them-up for late payment!)  Deliberate Late Payers use the ‘unspoken threat’ of taking their business elsewhere, to bully their suppliers into accepting late payment. 

Just like the playground bully at school, this will not change until the bully is stood up to!  If a payment is late, always speak directly with the person responsible for paying you; not their PA or receptionist or whoever else they cower behind!  If viable, offer to pop in and pick up your cheque in person.  Remember; if they are deliberately choosing to pay you late - sack them!

Next?
To stop Deliberate Late Payers from damaging your cash flow, you need to sack your existing Deliberate Late Payers and ensure you do not attract any new ones, by employing better credit control.

Business owners often tell me that they can’t sack their bad payers, because they need the turnover.  The answer I always give them is they it’s the income the need – not the Deliberate Late Payer! 

In fact, many people tell me that after sacking their ‘problem clients’ they find it easy to replace the income they lost; because they are far more motivated, less stressed and a heck of a lot more confident at the end of each month! 

IMPORTANT
Please forward this guide to any other business owners you know and ask them to do the same!