July 18th, 2017.

Creditors have better memories than debtors. So said Benjamin Franklin. If your business is sitting on a pile of uncollected invoices, you’re perhaps thinking, ‘Tell me about it’. You’ll know that chasing invoices is tedious, trying, and time-consuming, and at no time in your childhood did you say that your life’s ambition was to spend weeks, months, maybe even years being frustrated by ignored emails, unanswered voicemails and dodged phone calls. And it may be that, like many other business owners who find themselves in that exact position, you feel like it’s easier to throw in the towel than keep plugging away. After all, what can you do?

Shweta Jhajharia from The London Coaching Group, says the answer lies in another great Benjamin Franklin quote: An investment in knowledge pays the best interest.

It’s not enough to have a better memory than your creditor, you need a better system. And that system should be based on a four-week plan.

Before we get to that, let’s take a moment to study the cards you’re holding: Unless an alternative period of time is agreed, payment is late 30 days after the customer receives an invoice or 30 days after goods have been delivered or services provided (if later), and if another business is late paying for your goods and/or services, interest and debt recovery can be claimed. That’s according to

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