All late payments are not created equal

09/14/2010 | Entrepreneur online

Late fees and early-payment discounts are the typical inducements to get customers to pay their bills on time, but they're not very effective, writes Rosalind Resnick. Instead, try getting to the root of each customer's problem. Sometimes, for instance, late payments are a sign of dissatisfaction with your product or service. Fix the customer satisfaction issue and the checks will arrive on time.

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