Establish credit limits
Having credit limits in place will fundamentally help your business in two ways.
- It establishes clear rules for you and for your customer
- Credit limits work as a protection for you and your business.
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Credit management is my biggest lesson for the past 24 months. I personally lost $6, 000 to a client in Malta because of a lack of good business credit management on my part. I don't want you to make the same mistake.
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