In this episode, Harman discusses the challenges of dealing with late payments and how it affects cash flow and overall business health. She outlines practical steps to improve debtor follow-ups, including sending friendly reminders, automating notifications, and making payment processes easier for clients. Harman shares a three-step plan to ensure timely payments without alienating clients and offers tips for handling tough debtors. The episode emphasises the importance of disciplined financial practices and provides actionable advice to boost cash flow and profit margins.
00:00 Introduction to Money First, CEO
01:00 Chasing Cash, Not Clients
01:19 The Pain of Late Payments
02:11 Using Debt Collection as a Profit First Tool
03:28 Creative Follow-Up Strategies
05:17 Handling Tough Debtors
06:10 Weekly Takeaway and Conclusion
