Corporate survival is inexorably tied to cash flow, yet few books on operational basics devote more than a chapter to the topic. Not so with Get Your Money, by commercial litigation lawyer and veteran entrepreneur Eliot Wagonheim. Designed to help companies get paid what they are owed without alienating clients, it is completely devoted to steps that make a firm as "deadbeat-proof" as possible--along with those to follow if disputes cannot be equitably resolved. Wagonheim starts by guiding readers on a "tip-to-tail review" of their existing procedures, complete with advice on closing any loopholes discovered in the development and deployment of payment policies, account applications, due diligence, and other fundamentals. Suggestions follow on maximizing cash flow (request payment in advance; accept credit cards and checks safely), spotting potential trouble (how to track and address emerging problems), and handling difficult customers (set a contact schedule; call at acceptable times; never send letters from a phony collection agency). The legal section explores alternative resolutions, and, in case they can't be achieved, also offers complete information on filing suit, evaluating settlement proposals, and "turning your judgment into money." Helpful model documents and other materials are included in each chapter. --Howard Rothman
From Booklist
Even in economically flush times, there are people who do not always pay their bills on time. Delinquent accounts are usually factored in as a cost of doing business, but they affect small businesses disproportionately. Wagonheim is a Baltimore commercial litigation lawyer whose self-published The Art of Getting Paid (1996) has already examined Maryland's collection laws for the benefit of small business owners. Now he broadens his scope to advise small businesses everywhere on how to manage accounts receivable and collect money owed them. He first focuses on ways to prevent collection problems by recommending that companies establish payment policies and screen customers. He also suggests how to deal with problem customers and outlines collection tactics, including his own "tricks of the trade." Wagonheim then explains how to decide whether to take a delinquent customer to court, and he thoroughly describes each of the steps involved. Sample letters and forms are included throughout. David Rouse
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