

Chasing Owed Money vs. Making Money - bennesvig
http://bennesvig.com/2012/01/04/chasing-owed-money-vs-making-money/

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andyakb
I get his point, but think it is a little too broad. Yea, you probably
shouldnt spend all your time worrying about debts and instead should focus on
building what you can or just enjoying life, but at the same time you cannot
gain a reputation as somebody who wont pursue debts.

Estimate your chance of collecting a debt, calculate the approx hourly of
collecting it and then decide if you should pursue it. However, NEVER,
publicize the fact that if collecting doesnt earn you more than X/hr that you
will not attempt to collect.

As a business, debts should never just be forgotten. Maybe you never expect to
actually collect the full debt, but that doesnt mean invoices shouldnt be
sent, and it doesnt mean that at a certain point the account should be sent to
collections.

Focus on building your business, but dont let money owed simply walk away from
you.

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bennesvig
Hmm. I agree. I guess I'm less optimistic because what I'm owed is a drop in
the ocean compared to others.

