Payment Discounts

Giving a discount for paying your invoices and other bills early are used often in the business-to-business world. In the consumer world payment is expected upon completion of the service or delivery of the product so generally a discount is not offered. But in business sales the invoice amounts are larger and it can be well worth it to offer a discount for fast payers. Many times the amount discounted is made up by the late payers who end up also paying your service charges.

Discounts can speed up much needed cash flow so you can pay your own bills. Don't hesitate to use them often when you need cash flow or want to take advantage of your supplier's discounts. When offering a discount on an invoice highlight the words so they can be easily seen. If you really need the quick payment call them a day or two before the discount deadline and remind them. Many will have overlooked it and then decide to take your offer.
More on collection ideas in chapter 15 of my book "When the Shit Hits the Fan" available at amazon.com