
Small Business Confidential
40+ year business owner, Mike Reilly, shares the dirty secrets of owning your own small business.
Small Business Confidential
Where's My Money!
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Mike Reilly
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Episode 46
Mike, Brook and A'marri talk about collections and problem customers.
How do you collect the money owed to you? When to do a deposit or a prepay? How to make sure you don't run into the same problems with the same customers.
1:15 Mike kicks off the discussion on unpaid bills, asking Brook how to handle clients who don’t pay.
2:15 Brook shares prevention tactics like deposits, credit cards on file, and liens to secure payment.
4:00 A’marri emphasizes profiling customers and requiring upfront payments for newer clients.
6:00 Mike and A’marri explain the “status X” system to flag problem customers and avoid repeat issues.
15:15 The team wraps up with final thoughts on deposits, due diligence, and credit score consequences.