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Making Sure You Get Paid | The Business Coach - Episode 44
Manage episode 462137886 series 3575952
المحتوى المقدم من Maui Mastermind. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة Maui Mastermind أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.
In this episode of the Business Coach Podcast, host David Finkel explains why efficient collection systems are vital for a successful business. He discusses the often overlooked, yet essential, process of ensuring receivables are collected, emphasizing that failing to collect can be worse than not making sales at all. Using a case study of a law firm, he illustrates how small improvements in the collection process can significantly boost profitability. David provides practical steps to revamp and front-load collections procedures, offering actionable insights to protect cash flow and enhance business operations.
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00:00 Introduction to the Importance of Collections
01:50 The Real Cost of Uncollected Receivables
02:16 Case Study: Law Firm's Collection Challenges
04:36 Steps to Improve Your Collection Systems
07:56 Front-Loading Your Collection Efforts
12:53 Dealing with Slow-Paying Clients
15:16 Final Thoughts on Effective Collection Processes
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