Running lean while chasing down overdue payments feels like walking a tightrope. Every subscription renewal and business expense gets scrutinized twice now.
Currently juggling three clients who’ve gone radio silent on their invoices while trying to keep operational costs from bleeding me dry. The irony of cutting corners while clients owe you money hits different.
Stop doing work until they pay. Simple as that. I learned this the hard way years ago.
Chasing payments is just part of the game.
Three months of unpaid invoices taught me to get ruthless about this stuff.
For expenses, I made a simple rule: haven’t used it in two weeks? Cancel it. No exceptions. This killed:
Saved me $180 a month right there.
With collections, I stopped being polite. One friendly reminder, then it’s business time. My approach now:
Lost two clients this way but they were dragging me down anyway. Good clients respect clear boundaries.
Separate business account helped tons. When money’s tight, seeing exactly what goes out makes cutting easier. You’ll be shocked how much random stuff adds up.
Track your spending for a week. You’ll be shocked at what you find. I cut $150 a month by canceling unused software subscriptions.
With quiet clients, pick up the phone instead of sending emails. Everyone ignores emails, but they’ll usually answer a call. Give them one shot at a payment plan, then cut them loose if they don’t stick to it.
Cut everything you don’t use daily. Cancel those subscriptions now. Tell clients they need payment plans or you’re done working for them. Send final demand letters with hard deadlines. If they still don’t pay, go for small claims or collections. You can’t run a business with clients owing you money. Get serious about collecting payments and reduce expenses until cash flow improves.