How Do You Get Paid?
August 7, 2008
In light of recent bankruptcies and credit issues in the jewelry industry, JCK would like to know your best tip or tips to get your customers—suppliers, manufacturers/designers, and retailers—to pay their bills (and on time, if possible).
Thank you for sharing, and please email me at JHeebner@reedbusiness.com or call me at (267) 481-4120 if you’d like to vent offline. Please know that JCK has the right to omit exchanges which may be considered offensive or inappropriate.
How do you get paid?
Posted by Jennifer Heebner on August 7, 2008 |
Comments (9)
August 24, 2008
In response to:
How Do You Get Paid?John Brana commented:
If you have jewelry out on memo, file a UCC1 form with the state in
which the store/gallery/rep/corporation/owner resides. Filing fee
is nominal, usually $25 and is really your only protection (other
than a solid consignment or independent contractor agreement). A
Financing Statement (Form UCC1) is filed to perfect a security
interest in named collateral and establishes priority in case of
debtor default or bankruptcy. For more about UCC1 for California,
Google the term UCC1 California. This saved me in a recent store
bankruptcy, a rep gone missing (along with my samples), and a sole
proprietor that died (my jewelry was finally returned after 1 year
in probate). John S. Brana www.johnsbrana.com
August 15, 2008
In response to:
How Do You Get Paid?tripodadvertising.com commented:
As the VP of a jewelry advertising agency, I find that a great
incentive for payment is a small disclaimer at the bottom of the
bill that reads:"1.5% discount if paid within 30 days" followed by
the new total. It is a small amount, but it seems to work!
August 15, 2008
In response to:
How Do You Get Paid?tripodadvertising.com commented:
As the VP of a jewelry advertising agency, I find that a great
incentive for payment is a small disclaimer at the bottom of the
bill that reads:"
August 15, 2008
In response to:
How Do You Get Paid?tripodadvertising.com commented:
As the VP of a jewelry advertising agency, I find that a great
incentive for payment is a small disclaimer at the bottom of the
bill that reads:"
August 12, 2008
In response to:
How Do You Get Paid?Reader commented:
You need to fix the submission form, it tends to multiply posts.
August 12, 2008
In response to:
How Do You Get Paid?Reader commented:
You need to fix the submission form, it tends to multiply posts.
August 12, 2008
In response to:
How Do You Get Paid?Mark Shamash commented:
Many years ago when I was a Rep for a watch company, at times
during bad economic conditions, I found that a personal (face to
face) conversation with my late paying customers helped in
collecting past due invoices and have reduced future late payments.
Two very important points I would bring up: First, if the product
sold, he/she should do the right thing and pay for it (some emotion
triggers), and by doing so we’ll be able to ship them more
“good sellers” so to create additional cash flow. With
no threats of stop shipments, I left that task to our accounting
Dept. Second point, I would make it very personal, let them know
that it’s not a faceless company that doesn’t get paid,
it’s me, the one that always had their interest at heart.
During those 14 years I had the lowest number of
“problem” customers in the company. Today, as a
business owner, I find that humor, yes humor, helps in nudging them
to pay. As an example, I’ll send an e-mail with the subject
line: “Kids need new shoes, please help”, as a reminder
of an unpaid invoice. It works, most of the time. Mark Shamash,
Vogue Visual voguevisual.com
August 12, 2008
In response to:
How Do You Get Paid?Mark Shamash commented:
Many years ago when I was a Rep for a watch company, at times
during bad economic conditions, I found that a personal (face to
face) conversation with my late paying customers helped in
collecting past due invoices and have reduced future late payments.
Two very important points I would bring up: First, if the product
sold, he/she should do the right thing and pay for it (some emotion
triggers), and by doing so we’ll be able to ship them more
“good sellers” so to create additional cash flow. With
no threats of stop shipments, I left that task to our accounting
Dept. Second point, I would make it very personal, let them know
that it’s not a faceless company that doesn’t get paid,
it’s me, the one that always had their interest at heart.
During those 14 years I had the lowest number of
“problem” customers in the company. Today, as a
business owner, I find that humor, yes humor, helps in nudging them
to pay. As an example, I’ll send an e-mail with the subject
line: “Kids need new shoes, please help”, as a reminder
of an unpaid invoice. It works, most of the time. Mark Shamash,
Vogue Visual voguevisual.com
August 12, 2008
In response to:
How Do You Get Paid?Mark Shamash commented:
Many years ago when I was a Rep for a watch company, at times
during bad economic conditions, I found that a personal (face to
face) conversation with my late paying customers helped in
collecting past due invoices and have reduced future late payments.
Two very important points I would bring up: First, if the product
sold, he/she should do the right thing and pay for it (some emotion
triggers), and by doing so we’
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