A $5 Trick for Collecting What You’re Owed
There’s a way to increase your chances of collecting from a delinquent customer – or anyone else who owes you money – without worrying about a potentially nasty confrontation. Here’s how…
In a firm but professional manner, write a letter demanding payment. Then send it by certified mail. It will cost about $5.
Unlike phone calls and e-mail messages, certified mail is hard to ignore. And it’s intimidating to have someone in an official capacity (the letter carrier) require your signature. Not only that, but people who are somewhat educated about legal procedures will recognize that this could be your final step before you take legal action. (Certified mail is frequently used to establish that an effort was made to communicate with the target of a lawsuit.) That could be the impetus they need to pay up.
[Ed. Note: Part of being in business is dealing with delinquent customers. But Paul Lawrence – who spent about five years as a collections manager for two national retail chains – can help you get the money you’re owed. He explains the collection methods that work in his “Getting Paid Without a Hassle” program.]Paul Lawrence
Paul Lawrence is an entrepreneur who has made his living starting and running a series of profitable businesses. One day while cleaning his mother's pool for a few extra bucks, it dawned on Paul that he could perhaps start his own pool cleaning business. He carefully employed all the marketing techniques that he had learned in school and designed his first flyer. Immediately the business took off and within a week, Paul had his own little business. He quickly expanded, hired employees and then eventually sold it some relatives who made well over $250,000 in the next year before they eventually sold it for a six figure profit. After finishing college, Paul did a brief stint in a management program for a national rental company, but he quickly realized that he was much happier running his own show. Paul left the rental company and launched one of the most financially successful independent ballroom dance instruction companies in the state of Florida where he received quite a bit of media attention for his revolutionary business practices that included front page features in the Life Style section of the Sun Sentinel, features in the Miami Herald, Boca News, Center Stage Entertainment and many others. With that business running profitably, Paul started several other businesses either individually or as partnerships that included a million dollar video production company, a mortgage brokerage, a home maintenance business, several mail order companies, a business consulting service among others.With a love of movies, Paul began to work at breaking into Hollywood as a screenwriter where he's beaten the odds by becoming a produced writer. He is a credited writer for the film CRUEL WORLD, starring Jaime Presley and Eddie Furlong and has signed a development deal for a national television series with one of the world's largest producers of television and films among his half a dozen sales and options of movie scripts he wrote. Paul is the creator of the Quick & Easy Microbusiness program.