9 Tips To Collect Owed Money | How To Clear Overdue Payments | Retrieve Loans From Friends

About this video

Centeno provides nine practical tips for collecting money owed by others, drawn from his personal and business experiences. He covers strategies ranging from getting paid upfront and automating payments to understanding reasons for non-payment, contacting decision-makers, and negotiating alternative arrangements.

Key takeaways

• Centeno argues that collecting payment upfront—as Dell computers does—prevents debt issues and strengthens financial position
• Centeno recommends making specific payment requests in writing at least three times, with exact due dates and confirmation of receipt
• Centeno suggests seeking to understand why payment hasn’t occurred, as circumstances like financial hardship or personal emergencies may be factors
• Centeno advises contacting the decision-maker or company president rather than representatives, as this accelerates resolution
• Centeno recommends structuring your business so that non-payment or non-use of your services creates enough friction that clients are motivated to pay

Episode details: published September 23, 2015 · 143K views · 8:25 long. Summary written by Self Growth Videos from the episode itself. The style advice summarized here is Antonio Centeno’s own teaching and opinion, presented for education; product recommendations are his, not ours. Summaries are written by Self Growth Videos from each video itself.

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