Sometimes I wake up in the morning and I really don't want to go to work. Not because I don't like what I do because I love it. I simply dont want to go because I am so buried in debt i dont want to answer the calls of my suppliers. Its during these times I ask myself, how did this happen? Ok, I know how debts are accumulated but really, I've been working, been constantly busy and always offering more services. How did I get into debt? The sad thing is the answer is simply my own debtors are not paying me. Today its frustrated me so much ive resulted to reading a book on chasing debts for answers. For those of you in similar shoes as I find myself, here are a few tips i got from my debt collecting book. Might come in handy to you too. 1. Make sure your credit terms are known to your customers. The best way is to print them clearly on the invoice. 2. As soon as your customer has overstepped the mark and the bill is overdue, ask for the money you are owed. This should be done
Thoughts from a Kenyan entrepreneur passionate about startups.