Short transcript from a YouTube video by Mike Andes discussing $30,000 in overdue payments for work already performed (notably snow plowing done in February). Two speakers discuss the lack of leverage once services are completed, pushback from long-term customers against new payment rules, and practical tactics: require new customers to provide card-on-file details and incentivize existing customers to do so by tying it to a price increase (keep price the same if they allow card-on-file).
We have $30,000 overdue. Yeah, it's already work we've done. A big chunk of. It's from the snow plowing that, like, was done in February. Do you have QuickBooks set up right now or not?
No, no. I can at least send out an email, like just a bulk email to all my customers saying, like, hey, you.
Know, they won't.
Do it, but they won't do it. That's the problem.
You got leverage. When you're there saying, I want service. I just need your car information, you have no leverage. Once the job has been done, you walked off, everything is. They're happy and like, oh, well, I can just put this off as long as possible or wait until there's a lien on my house.
And that's the problem with, like, existing customers too. It's like, well, we've been for six years the other way. Why I can't. Why do I have to put a card on file?
So one way to do with them. So I would say for now, like, just get new people that are accepting car information. But how you can get existing customers is bake it into your next price increase. So, for example, what you could do is you could say, hey, our prices are going up. But if you're willing to put your car on files to help our cash flow, your price will stay the same.
