An easy trick to get businesses to pay their invoices. Proven to be effective.
You've sent invoices, reminders, and perhaps even automated follow-up emails. Yet, your client or customer seems to be giving you the runaround, ignoring all attempts to collect payment. It's a story all too common in the business world, a cycle that seems never to end. What else can you try?
The solution might be simpler than you think, lying outside the usual channels of accounts receivables and collections. The best way to get an invoice paid from a business may be something very few organizations actually do, but it's effective, simple, and takes only minutes.
Bridging Connections for Payment: The Executive's Path
Step 1: Identify your non-paying client's CEO or the highest executive with whom your company has a positive relationship.
Step 2: Have your CEO forward the original invoice email to the identified contact, formally requesting to "take care of the below" (without mentioning the invoice or payment).
Hi John, I hope you're doing well.
Can you please take care of the below?
Thanks in advance.
The deal is:
Do keep it short.
Do not confront them or use the term "unpaid invoice."
Do write in a tone that shows your expectation for prompt action.
Do give them a sense of authority while positioning yourself similarly.
That's it. It's as simple as that. It's professional, and there's nothing wrong with doing so.
Why This Works
This approach leverages the power of relationships and breaks the monotony of the typical collections process. It turns a transactional interaction into a relational one. Here's why it's so effective:
Personal Connection: Coming from a friendly voice, it carries more weight.
Accountability: By involving senior management, it elevates the urgency of the payment without being confrontational.
Simplicity: It's non-intrusive, friendly, and straightforward. You clearly express your expectations without being confrontational, put them in a position of authority, and demonstrate your own authority.
Collecting commercial debts doesn't always have to be an uphill battle. It's often the simplest solutions that are the most effective in business.
Take the next step toward financial stability and peace of mind. Contact Fair Capital today, and let us help you transform the way you handle business debt.