Eight Successful Ways to Make Good, Your Bad Debtors

Wow, what do you mean you’ve gone bust?

April 10, 2019 | No Comments

Wow Air, Primera Air, Flybe, XL….. What do the above have in common? Well, they’re budget airline carriers who operate in a no-frills capacity. It’s estimated that around 30% of airlines who start to operate go bust within the first two to three years of trading. But why? Simply because of high operating costs, broken down primarily with large fuel costs and high end operating leases, wage bills leaving many of these airlines scraping the barrel of their overdraft. This article from the Independent showcases that if we, as consumers, aren’t careful, we too could get stuck in the middle
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Why Signing On The Dotted Line Could Cost You

April 3, 2019 | No Comments

B….t or B…….t As you can see one gap is bigger than the other….I let you fill in gaps 😊 Put quite simply, UK politics has never experienced a gap like last couple of months. There’s a tendency to leave things right up until the last month for individuals of any party to agree to the deal. When we do things under pressure, it’s human nature to start making mistakes, as we are fearful of time running out. Whilst the majority of us are fed up with what’s going on in Westminster, it’s evident that the issue that arose was
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6 Steps For Dealing With Suppliers That Have Restructured

March 27, 2019 | No Comments

I previously worked for two companies that had gone through major restructures or name changes. This meant: a complete change in internal processes a drive towards different elements changes to internal bureaucracy This lead to a more streamlined approach, getting things done quicker, and was sometimes necessarily brutally for survival. … but it can come at the expense of upsetting their Customers. During this process you may feel as though your Suppliers have been ignoring you. If your supplier is a large one, you may feel that you have not been successful in getting your point across. There are a
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3 Steps To Avoid Your Creditors Taking Legal Action

March 20, 2019 | No Comments

What is a HCEO (High Court Enforcement Officer) and what do they do? Britain’s civil police force will, by any legal means necessary, enforce you to give up assets to pay for a CCJ, or a Judgment Debt. Often, this could have been avoided many days/months/weeks before. A few years back, I about the epidemic that was striking Britain, where Court Orders granted were unpaid. What some people forget is that many creditors will give the debtor (those at default on their Account with their Creditor) a chance to remedy their wrongs. They might do this through an abundance of
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Why Embracing Technological Change Is Vital To Business Growth

March 13, 2019 | No Comments

Strikes, Ideological misfits, “colossal mistakes”, and monumental cost savings are now part of our global thoroughfare in order to improve business efficiency. The chaos that ensues when train companies strike is unfathomable. However, as this becomes more frequent, Senior Operations have some sort of idea as to the crowd numbers to expect to get London moving. What was the reason for those strikes? London Underground wanted to streamline its operations and bring in ticket-less counters, predominately in a bid to save costs. … with technological advances, it became possible. Change isn’t nice, but it’s necessary to survive To a lesser
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8 Tips For Small Business Owners With Late Paying Customers

March 6, 2019 | No Comments

Some Small Business Owners I’ve known unfortunately shoot themselves in the foot by issuing out maximum credit terms. I understand, it may be one of your biggest Customers – and you need to keep them happy … … but if you offer them terms, they are unlikely to pay within the normal 30 day term period. Are you doing enough to avoid these pitfalls? If you’re just starting out in business or you need a better framework to govern your bad or late paying customers, here are 8 tips for you: Deposits If at all possible, get your Customers to
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What Is A Bankruptcy Petition And How Can You Avoid It?

February 27, 2019 | No Comments

In the UK, a debt of £5,000 is the minimum needed to serve a Statutory Demand on an individual. If ignored, this leaves you with the option to start bankruptcy proceedings. So, what is a A Statutory Demand? It’s an official document that serves as a notice to the debtor, (the person that owes you, or your company, money). Once registered, a Process Server is hired to serve (or sub-serve) notice on the debtor. Once served, it gives the defaulting party (your Customer, or ex-Customer) 21 days to come up with the funds to clear the debt they owe. Bankruptcy against
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Know Your Worth: Are You Charging Enough?

February 20, 2019 | No Comments

What keeps a lot of entrepreneurs and service providers from charging what they’re really worth? They don’t price their products and services correctly … … they think “I am not a sales person.” Now, combine that with a healthy dose of “It’s rude to discuss money,” and you can see why it’s easier to just keep your rates low. Even when you’re struggling to run a profitable business. Many people don’t charge enough and it’s destroying their business. Let me tell you a personal story. I’m a Debt Expert. No! Don’t run away just yet! Usually people hear what I
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Is It Time To Break Up With Your Supplier?

February 13, 2019 | No Comments

While breaking up with your partner this close to Valentine's Day is a little cruel, it's never the wrong time to question if your supplier is still 'the one'.
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Stop! Do These 3 Things Before Raising Your Rates

February 6, 2019 | No Comments

There comes a time in every entrepreneur’s life when you have to raise your rates. Maybe you’ve been in business for years without a pay increase You’ve realised the cost of living has gone up, and what you’re charging doesn’t cover your expenses Perhaps your skills have recently improved through a new training course or certification. Or maybe you just want to attract a higher calibre of client and increase your own business’s profitability. Whatever the reason, it pays to have a plan in place before your big announcement. Here’s how to raise your rates First, take a look at
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