Take Affirmative Action
As a business leader much of your time is occupied by attracting new clients and building relationships.
A long-time business partner can become familiar as family, built upon a solid foundation of trust, mutual respect and shared profit the relationship may endure for decades. The beginning of the relationship may, however, be more of a rocky experience filled with miscommunication and anxiety. This tenuous time-period can be further exacerbated when payment for services or goods received is not delivered in a timely fashion.
The reality is that you are responsible for paying your employees, business partners and providing for your family. Your business needs to be compensated for the resources expended to produce the services or goods delivered or you won’t be able to meet your obligations or even stay profitable.
A heavy hand may jeopardize the burgeoning relationship and ruin any chance of future business with the new client you have worked so hard to attract. In contrast, what you permit, you promote. By letting your client get away with not paying as agreed sets the standard for more of the same. Enlist the help of a collection attorney, meet your obligations and keep the relationship profitable.