He Did the Job. They Ghosted Him. $750 GONE!
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Key Takeaways
Implement mandatory prepayment or card-on-file policies for all services to prevent ghosting and ensure timely payments.
Shorten payment terms to 7-14 days maximum and automate collection reminders (texts, emails, calls) to accelerate cash flow.
For larger jobs, always require a significant deposit (e.g., 50%) or offer an option for full upfront payment to cover initial costs and improve cash flow.
Maintain thorough documentation of employee performance, attendance, and all communications, alongside a clear, signed employee handbook, to protect against legal threats.
In at-will employment states, when terminating an employee, avoid giving specific reasons to prevent potential discrimination claims; simply state it's 'not working out.'
Stop providing services to clients with unpaid invoices immediately to prevent further financial losses and focus on collecting existing debts.
Regularly analyze your financial statements (P&L, balance sheet) to identify cash flow constraints and areas for improvement, especially regarding bad debt.
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