• KNOW YOUR CUSTOMER:
  Investigate prospects' creditworthiness. Places such as Dun & Bradstreet (800 333-0505) or Experian (800 520-1221) sell company credit histories.
  
• BE SMART ABOUT BILLING:
  Send invoices more than once a month, and add urgency by dating it with the next month.
  
• CONSIDER IN-KIND PAYMENT:
  Accept free services, for instance, when a customer really can't come up with the cash.
  
• WRITE FIRST, SUE LAST:
  Hire a lawyer to send a demand for payment on letterhead; it doesn't commit you to filing a costly lawsuit.
  
• USE A COLLECTION AGENCY:
  Farming out bills can get results, but on average agencies take a 30% commission--and collect only 22 cents on the dollar.
  

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