You can’t squeeze blood out of a turnip.
Growing up, I would often hear my parents talk about the financial health of their business. Although the conversations mostly centered around its success, there were occasions when they discussed some of the problems. Specifically, clients that owed them money. It was from these conversations that I learned the hardest part of owning a business, debt collections.
Debt collection is a tough subject to address as a business owner. Many choose not to pursue collecting on a debt because they believe the person has no assets or they do not want to deal with the headaches associated with collections. I see [...]
