Business Brain – The Entrepreneurs’ Podcast Small Business Contracts and Getting Paid on Time – Small Business Show 140
Ever been surprised by the small print in a contract that you signed for your Small Business? Join us today for episode 140 of the Small Business Show for tips on how to respond when companies try slip egregious terms and conditions into their contracts, how to shut down automatic bank withdrawals by using the Revoke Authorization tactic and much more.
Dave and Shannon then jump into a discussion about setting up clear and concise payment terms to be sure you get paid quickly for your products and services. Setting a clear payment policy that is shown up front to your customers is critical to avoiding problems with getting paid in full and on time.
Stay tuned in the coming weeks for part 2 of our Getting Paid discussion when we’ll discuss the best ways to manage debt collection.
Next week, we’ll be joined by a pair of Small Business owners running their company on the Turo car sharing platform. Listen in and then jump over to the Small Business Support Group to comment and ask your questions.
Chapters/Timestamps:
- 00:00:00 Small Business Show #140 October 11, 2017
- 00:01:20 Follow-up on Phone systems – Get enough data!
- 00:04:20 Credit Card Follow-up
- 00:06:51 Pay attention to contracts
- 00:09:50 Learn about “Revoke Authorization” compliance
- 00:13:46 Send important emails with the recipient on the phone – to confirm verbal receipt.
- 00:16:45 Watch out for the arbitrary fees
- 00:17:52 Mind the details
- 00:19:15 Things you can do to make sure you get paid
- 00:20:32 Have a very clear payment policy
- 00:23:56 Get comfortable discussing money
- 00:24:45 “The value of your skill drops precipitously once you perform it”
- 00:27:12 Have a pre-services info sheet/agreement
- 00:28:16 Make sure to bill for your time
- 00:30:12 Debt Collection coming up!
- 00:30:40 Turo.com car sharing platform interview coming up next week
- 00:31:00 SBS 140 Outtro
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