As if starting a business isn't challenging enough, after a great idea comes the hard work of attracting clients. After attracting those clients is the task of getting them to pay invoices on time. In reality, the homework used to qualify clients may also offer clues to whether they will pay on time. While some may argue that beggars can't be choosers, we "beg" to differ.

As an entrepreneur, it is possible to attract the clients who want to pay invoices on time.

Client Clues & Red Flags

Qualifying clients may be one of the smartest moves for a growing business. One of the best ways to qualify clients is to establish a baseline of your ideal target audience. When identifying who you wish to attract, consider the following:

• Who are your competitor's clients? Do you want to attract the same type of clients or only a particular segment? Maybe there's another niche to consider?
• What are the benefits of your product or service? Who did you have in mind when you came up with the idea?
• Are there particular demographics of your perfect client? Is there a minimum revenue that would best be matched to the cost of what you're offering? Is there a particular location that would be better served?

During the sales process, it's important to remember this adage: you train people how to treat you and your business. If you establish value in your product or service, you want to attract clients who also see value. When a potential client is thrilled with what you're offering, but then asks if you'll throw in some "freebies", this may be a red flag.  When a client seems challenging to contact or is difficult to pin down, in person, on pricing, or in any way, this may be a red flag. When a prospect seems unimpressed and makes you go above and beyond your typical sales process, to the point that you're spending an exorbitant amount of your own time and money to convince them, this may be a red flag. These sales clues will offer some insights on the type of client you're attracting and these red flags may be a sign of things to come.

Sales is Like Dating: Who Pays For Dinner?

Most of us have had the experience of going on a bad date. It feels like work, right? Other times, simply sitting next to the right person on an airplane can feel like kismet when you can't stop talking and connect on so many levels. Sales can feel like this as well. When you know, you just... know, you know?

The right client will be interested in what you have to say and it won't take 17 phone calls to get them to listen. The right client will see the potential in your product or service, ask inquisitive questions that prove they get it and want to know more, and will take the time to do the extra research to learn more about your business. The right client will want to dedicate their time to make sure the deal is a solid partnership that benefits both businesses. Mutual respect is the result. With that respect also comes the added bonus of wanting to maintain the relationship.

The best way to maintain a relationship? Doing whatever possible to make the relationship fair for both parties. This includes being honest if things aren't going right, wanting to resolve any challenges in the relationship, and fulfilling the promises agreed upon in the contract. As long as your business upholds their part of the bargain with the products or services, the other business is willing to pay their invoices on time.

Recommended reading: Firing a Client for Non-Payment

When It Doesn't Work Out

As with any relationship, sometimes things just don't work out. Even if you've done everything right, there could be any number of reasons for a client to disappear or stop responding to requests to pay. The main thing to remember is that if you did uphold your part of the contract, you still have a right to get paid. Start friendly but firm and make sure you're communicating clearly what you expect and when you expect it. If you feel like you've run out of options and are considering a lawsuit, slow down and consider hiring a corporate debt collections agency. You actually can "divorce amicably" if you work with an agency that respects your business relationships.

We charge no fees unless we collect. Learn more about the debt collections process and let us know if we can help.