Quote:
Originally Posted by Debt Collector  Do not charge anyone a late fee, unless you want to ruin any goodwill you have built with that client.
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Remember your a small business, it's all about personal service. Not how much you can screw them for. Leave that for the big boys. |
I 99% disagree. The 1% I agree with is the part about personal service, it's very important.
The other 99% is about trying to 'screw them'. Correct me if I'm wrong, but they are the ones who agreed to your payment terms, and their payment is well overdue. As a business owner, cash flow is very important to the stability of a business, so you do have to ensure you get paid on time. From experience, in about 90% of cases, adding the overdue fee to an invoice and resending had outstanding bills paid in less than 2 days, and not a single one of those clients has packed up shop and moved on.
I do not apply overdue fees to 'screw' clients, but merely to encourage them to pay their outstanding fees for service.
Joel