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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