How To Be Friends With Your
Bank Manager - He Might Even Tak |
By Marcus Owen-Henson |
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Bank managers have a habit of writing nasty letters when they are
owed money and only get excuses instead of payment, from their
clients. If you have received such a letter then you may be upset
and feel that your banker is being totally unreasonable by being so
pushy. However, remember that he has someone higher up sitting on
his back, so you can't really blame him for doing his job and
chasing you for what you owe, can you
But, it's not very
pleasant when a crisp white envelope marked "Private and
Confidential" lands on your desk and you've a pretty good idea what
it contains. "Dear Mr. Businessman, it has come to my notice that
you have exceeded your overdraft limit once again and I must..".
Panic! What do you do now
The secret to keeping a friendly
relationship with your bank is to keep your account in credit, or at
least within the borrowing limits you agreed with them. Easier said
than done in these difficult times, so where will you find the money
The answer is there, right under your nose. Your account customer's
have it sitting in their banks! How much money have they borrowed
from you and are now very reluctant to pay back
"Borrowed you
say. I haven't loaned them any money".
Oh yes you have. When
you allow them credit for goods or services you have supplied, you
are in effect loaning them money, your money interest free. The
(loan) terms are that they pay you at an agreed time as set out in
your terms of business, but how many keep to that agreement? Not
all, and that is where you will find the extra money to keep your
bank manager sweet.
The very day after the agreed date for
settlement is the legitimate time for you to chase them for your
money and, if they haven't paid, chase them hard. Your bank manager
won't hesitate to chase you for what you owe him, now it's your
turn.
What's that? You don't want to upset a good customer?
How good is a customer if he owes you money by constantly not paying
his account on time?
In business a slow payer can often turn
very quickly into a bankrupt and then you've lost the lot! If your
customer keeps making excuses, then he must be in trouble and that
could mean even bigger trouble for you in a very short space of
time.
Back to your bank manager. Do what he does before
allowing anyone credit. Don't make it automatic that a customer is
allowed a credit account. Check him out thoroughly first. It is
often a good idea to allow a discount for a cash payment when you
hand over the goods or have completed the job, rather than allow an
account to be opened.
Chase all slow payers the day they are
overdue, chase them hard and continuously until they pay. Don't
accept lame excuses. Would your bank manager, from you
You
have supplied the goods, so it's your right to be paid for them.
Remember, today's slow payer could be tomorrow's bad debt!
For much more in depth information on this subject and Claim Your 7
Free Valuable and Extremely Useable SECRET Reports go to the web
address in the below or go to http://www.speedypayers.com/
Disclaimer. All suggestions and comments in these notes are given in
good faith and are as previously used by the author in his business.
No responsibility will be accepted for any difficulties that may
arise or losses that might be incurred by anyone applying these
suggestions in their own business. Should anyone have any doubts at
all as to the consequences that may arise from following these
suggestions, they are advised to seek professional help before
putting them into practice.
Copyright Poly Promotions 2006.
It is expressly forbidden to publish this article in hard copy form
without prior permission, in writing.
However, this article
may be freely used in your own publications on the Internet provided
it is reproduced in its entirety and without alteration in any way,
including this notice. |
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