Extending Credit

Extending Credit
February 10, 2019 Gary Shotton

If you don’t extend credit you may lose the sale, but if you extend credit to the wrong person you may go bankrupt.

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Gary Shotton
Founder | IBBTalks.com
The founder of IBBTalks.com which was formed to "Inspire Better Business."
As an astute businessman, he is passionate about helping others in the business world achieve maximum profits. He has a keen interest in international business. www.InspiringBetterBusiness.com

2 Comments

  1. Tim Walterbach 2 months ago

    We’ve all been there, every business person experiences loss or stress from unpaid receivables. Just as a retail store must include some shrinkage in their business plan, so Service oriented or product Instalation businesses have to include certain percentage for lack of payment. I like your advice for doing a job a piece of the time as a way to secure payment. Very helpful.

    • Author
      Gary Shotton 2 months ago

      Tim, Anyone that has not had this happen is probably not being truthful. Your suggestions for setting back a reserve to over these loss is “spot on”. Blessings, Gary

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