Getting Clients to Pay in Advance

Whether your business works with manufacturing cabinet hardware, or you just plain run a service business there may be a need to get paid before you actually deliver on the deal. How exactly do you get customers to pay you before you actually perform the deed you promise when you collect the cash? I ran a crossed an interesting article that helps explain just how to do this and some tips to make sure that you can get your customers to help you out...in advance.

For a small company, getting paid on time can mean the difference between having cash for an expansion and borrowing to pay the bills. But if you're a minor vendor, you may be last on your customers' payment priority list. One solution: getting clients to pay in advance. That's easier said than done, of course, because your customers like holding on to their cash as much as you like seeing them part with it. Nevertheless, clients will prepay if given the right incentives. Following are three stories of business owners who got sick of waiting around for payment and decided to do something about it. full story