Members’ spotlight – Richard Moore
At todays InGroup get-together, Richard gave us a rundown on credit control and sorting out debt. He kicked off by suggesting simple ways to handle late payments, like sending a nudge before and after an invoice’s due. He made it clear how different it is to deal with individual folks (B2C) versus businesses (B2B), especially when it comes to things like interest and legal issues that differ between those types of client.
Richard explained how crucial it is to be clear about when you expect to get paid, to avoid any mix-ups. He walked us through what to do if someone’s late paying, talking about interest rates and compensation. The legal info he covered, like going to court or sending a ‘Letter Before Action’, really opened our eyes to what’s involved in chasing up debts. He also touched on the critical decision-making involved in whether to involve solicitors, balancing their costs against the potential benefits.
Richard’s chat was super useful for the group, not just filled with facts but also real practical advice on dealing with credit problems. He’s got a way of explaining things that’s easy to get, even for us who aren’t experts. This is exactly why our InGroup meetings are so great – we all get to learn something new and useful!
We had 17 members join the meeting today and shared 7 referrals with the group. Recent referrals have generated over £9000 in business for our members.