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Invoice4you for organizations

welcome to the sales acceleration show my name is michael hamlet and i'm the founder of chaotic and in this show we discuss all topics sales and marketing but this one is special because what happens when you've done the sales and all the marketing and you've actually closed the deal and then you send an invoice but the invoice does not get paid so I've invited em and she will go in detail through what you do next so and explain to our viewers what you do yes hi I'm from justified and so basically we help all entrepreneurs to recover their unpaid invoices quick and easy so that's very stand for very good so typically what happens is I send out an invoice let's say 30 days let's make life easy 30 days and then nothing happens yes so what do I do first of all it's very important that you send a reminder written reminder to your email is good email is good registered letter is recommended immediately you know you can send first of all you can send emails you can have a call it's basically it depends on your culture as well what how we do you yeah go on with your I see a lot of companies not corporates but a lot of companies where they're smaller yeah and they're like yeah but if I do this then my customer would get upset yes so that's why for instance in many cases I start with an email before you do register the letter yes of course I think the best way is to indeed first of all to it the gentle way so send an email or pick up the phone and just ask them to pay attention to isn't an email better because it has leaves a trail well in the end and what's most important that you when you take for your steps and that you can prove that you have sent a reminder so in that way an email is better because you have really proof and therefore I would say a registered letter is safer but it's not it's recommended but you don't have to send it one of the things they told me is that if somebody doesn't in the company that you send the invoice to doesn't complain within 10 days mm-hmm it's fine they've accepted the invoice is that something true or is that yeah I know that that's something that's going on in the world but no it's not it's not all sleep bad again yeah I'm afraid it won't work in courts so they don't pay a cent to my name I phoned them up what are the options what what can I do well basically you have four four options that you can go to first of all you have any castle agency they will send a couple of reminders and they will try to get your invoice paid and you pay them a percentage Rahad most of them work with a no cure no pay rule but in the end if they can't get any further they will have to work together with a bailiff which is also known as a co-writer dutch-speaking people then secondly you can go to a lawyer which also will send a reminder in his name which is a little bit more pressure to it and it will also represent you in court when it's necessary then the third option is a bailiff so again I said whether he will also send a reminder and they will also do the execution once you have a judgment from the court and then the last option is a factoring agency and they will basically buy your unpaid invoice for a smaller amount and then they will try to recover it through the three ways what's the fastest well because I've seen it guy I'm listening I am thinking this is scary stuff and if I send out an invoice for two thousand euro mm-hmm it's gonna cost me more all right so okay let's let's ignore the corporates for now because that's a machine that's running they'll do it for fifty bucks I get it so what if I'm somewhere in the middle well actually there's not there's not one right answer to that I was afraid to yes we did a lot of research to it lately and we discovered that the best way and to decide which is the best recovery party for you it's not based on your own situation but on the situation of your adapter so basically yes so each of the parties have their own way of working they have their own cost structure and it's it's not logically to paint them all with the same brush as you might say so actually you have to really look into the doctor situation to decide which of those options will be best and is the one faster than the other or more expense I mean Court is the most expensive one clearly there's a lawyer I mean well I have to go back to my previous answer that it all depends on your doctor situation and we all really have to see which are the steps that I have to take for him to pay and which can I leave out and it's hard to know upfront and that's why we recommend and we are specialized you're making that decision and to make sure that you don't make any steps that are not obliged to do so and also that we can make it shorter what are the things that we should for sure prepare if we go there we are thinking about it's all the things I need to prepare properly of course the right contact the right name is a specific things I need to think of what we basically need is your invoice so with all the information on it which should be there anyway yeah so let's let's go back to that may be very basic yeah is there something that for sure I mean what should be on the invoice to be hundred percent safe yeah first of all the address of course the name of the company the compact person it should be on there because I've seen a lot of invoices go to accounting it's easier when you have a contact person but it's not necessary to know if you have an address and and really the company or person that it's not of course if talking about the company if it's a for a consumer to be yeah but in a visible context you just need an address the name of the of the company and preferably also the fat number yeah description of what it is or can it be a code that not really for the parties that will work with it that's not necessary but for yourself it's of course a pure number I'm just naming all the stuff because I dealt with a very large corporate and of course they give you a pure number and then you really clean but that's not needed no I'm looking at Peter we are on the safe side here right and what's also very important or not some advice I would give is to have well considered general terms and conditions because I know it is that and that's something that a lot of entrepreneurs like these days and basically it's very good to have a damage clause in your general terms and conditions as well to include it there and that way you can basically already have some of your costs recovery cost quiet so it's not penalty but it's damage claim yeah okay yeah so I would say if you would add a 10% of your invoice with a minimum of let's say seventy five years then you're safe that's a very good guideline for that and I will add to that as well if you can make those general terms and conditions mutual meaning that when you like to deliver then your clients are the same right and that's also good because when it will come to court eventually and then you have a much much more chance that that will be granted to you one of the things that I see also is that a lot of companies they send an invoice that they do a service but they don't have a signed offer or something so when they sent the invoice yeah in essence it means the terms and conditions are the ones on the invoice mm-hmm right so I don't need an up from sign terms and conditions document and everything or of course it would be better to have it but it's not essential it's not essential but of course it's always better if you but my dear friends you it's better to have it up front sign right absolutely yeah yeah happy okay so I talked I have the four options I go there I have the if anything's really gone so how much time will it take in average well I have to think of course it depends on the legal system know it but is it weeks days months it's really hard to say because once again it depends on the situation of the doctor and if he can't pay or not but I would say for six months that's general to get your money yeah it scary but yeah it is of course and it's just yeah an idea it can again different differ every time and it's very hard to put a real number on it but if you do it via the right party it can be short of course so some final advice you have to say half I think as final advice I would say first of all have well considered general terms and conditions that's very important also make sure that you have sent a written reminder traceable you know that's very important as well and 30 choose the right recovery party for your unpaid invoice you can do it via justified of course otherwise it's very important just to have a partner that you trust but also one that is very transparent and as we are working and who can really tell the steps that you've taken and so you can follow from a distance I think that would be a a good advice from my side perfect now every guest that gets into my show yeah ask them the same few questions at the end shoot so the first one is so where do you get expired what do you read where you go for blogs or websites where do you get your information I think I watch what inspired me the most is other entrepreneurs when you're talking to them because each entrepreneur has its own story and it's very inspiring to hear how they do it what they struggle with and so through networking and through working together at a lot of people I think that is my biggest source of inspiration of course reading a lot of books I think for our firm we had a lot about the 4-hour workweek of course it's really inspiring and it gave us a lot of inspiration on how to to handle the things to read but most of all I think yeah other entrepreneurs that are more most inspirational perfectly so there are so many moving parts especially when you're starting things moving so how do you bring focus that's a very difficult one for sure that's why I mostly yeah there are a lot of things that you you want to do and you had a lot of hats on and making decisions all the time I think what works best for me is really prioritize the things that you really want to do and the things that you think are in nice extra mm-hmm and with every idea that we have we really put a mark on it like okay is this really something that we need to do right now or do we put it somewhere in the future and just make sure that we don't forget it sometime but we don't put our focus on for the moment yeah but it's it's very difficult to do so very close to that is how do you say no to the things you do not want to do I think that's the same way always thinking like do we really want to do it and if it's for ourselves really like is it is it something that we need to do and we need to do it right now then we say yes and otherwise we know our kids and how do you say it you just kind of a lot of sales people that are in this show they say I kind of say yes but I mean no and kind of push it away or you actually bluntly say I think we really would say it because we really have a vision that we want to help other entrepreneurs and we can only help them by being honest so if we we receive for example an invoice that we know the chances are very low we will also say that and like this one is we advise to stop it and to make no further costs so in that way we would just say no to them and I think it's very important and it's some kind of a philosophy I think to do it that way so what's what's your at the mount your I mean what's your biggest failure up to now where you say that's something I will never do again who won there are a lot of things that pop into mind a lot of learnings that we had I think the most important ones when we have to work together with partners to be a little bit stronger in deciding which who we should work with ask a lot of questions and so you can say no yeah I really think about okay and do we share the same culture and the same idea I think that's very important because then you can find each other yeah when you like that it will be a struggle in the end yeah so I would say make sure that you're on the same line before you say yes and then final one where can people learn more about your company for sure on our websites that is we've taught justified dot ve we will also post a lot on LinkedIn yeah and you can always make a connection that doesn't LinkedIn as well and we are more than happy to answer all your questions and that everybody might have regarding on patron voices super thanks for joining this show you're welcome it was fun and now that you know how to get your unpaid invoice paid actually you know exactly what to do if you like what you've heard give it a thumbs up and subscribe for a lot more shows coming your way thank you for watching