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Audio Recording for Profit by David Goggin, Chris Stone

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24

The Art of Credit and Collection

All of us, big and small, music, post, or replication, creative audio person or technician, have been “stiffed” more than once. People whom we trusted, those who paid us regularly for years and then stopped or stretched us out until we had to take legal action, are a constant threat to our bottom line—and a fact of business life. How do we minimize this perpetual threat? How liberal or conservative a credit and collection policy does one have to adopt in order to maximize revenue and minimize loss? What are some of the games these people play to take advantage of us? How do we respond in kind?

ADVANCING CLIENT CREDIT

First, there is no question that both client credit authorization and collection of past due ...

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