Dan Martell - I lost $80,000… here’s what I learned.

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00:00:00.000 had a woman in New York city owed me $80,000.

00:00:03.000 And all of a sudden it went from, I'll get to it.

00:00:05.320 I'm sorry, to no response.

00:00:06.980 I'd love to say there was a happy ending, there wasn't.

00:00:09.020 I never got paid.

00:00:10.080 I learned a lesson.

00:00:10.940 I created a checklist for escalation.

00:00:13.480 Day zero, day three, day seven, day 10.

00:00:16.240 I just don't let it go.

00:00:17.320 Here's what I've learned about accounts receivable.

00:00:18.940 The squeakiest wheel gets paid.

00:00:20.980 So if they're a business owner and they're sitting there

00:00:23.080 and they've got X amount of cash

00:00:24.500 and they've got all these payables to get paid,

00:00:26.340 they're gonna choose who they pay

00:00:27.580 based on the pain of not paying,

00:00:29.900 based on who's being the most aggressive

00:00:32.100 or persistent or whatever,

00:00:33.640 I wanna be on the top of that list.

00:00:35.480 When things get into 30 days over, that's red zone.

00:00:38.760 I'm sending a message on Facebook to their wife

00:00:41.300 saying, is Bob okay?

Dan Martell - August 02, 2023