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To me, it's the ultimate insult, and I've tried to make sure that everyone I hire thinks about it the same way. After all, when you're starting off, it only takes one bad debt to push you over the edge (one friend of mine was running a profitable business that went bust purely because his biggest supplier didn't pay him for six months). OK, so I don't expect everyone to pay up in 30 days just because their contract says they will (I know I don't). But I can't be doing with people who promise to pay and then go back on their word.

So I read the piece in last week’s bulletin about legal options with interest - because for the first time in a while, we had a debt that looked like it was going bad. Generally speaking, we've found that the easiest way to avoid dodgy debtors is to be extra careful about who you do business with (I know this is easier said than done when you're starting out, but still). We only do deals when we're confident that the client can pay, and we know exactly what needs to happen before the cheque gets signed (PO numbers, that kind of thing). And in this case everything seemed fine: their reputation was fine; the project was interesting; I'd even met the CEO (and liked him).

After 30 days they still hadn't paid, so we did what we always do: gave them a gentle kick up the behind. By the time it got to 60 days, the warning signs had started to appear: we could never get through to the accounts people, and when we did, it always seemed to be a brand new person (which, let's face it, never bodes well). 

Now I'm firmly of the opinion that if a company is struggling, the important thing is to elbow your way to the front of the queue of creditors. The one who shouts loudest will often get paid first. So we ramped it up: we leaned on our original contact; we offered them a payment plan to spread out the costs; we even managed to get hold of the CEO's mobile number via the switchboard, and pestered him direct. They kept promising to pay, but the cheque never materialised.

So this week I decided to take matters into my own hands: I went round to their office in person and demanded to see the CEO. When they told me he was out, I took my laptop out and told them I'd wait, demanding (as loudly as possible, in front of everyone in reception) to know whether they were having money problems. Not surprisingly, the CEO soon appeared – and 30 minutes later, I walked out with a cheque for the full amount (and went straight to the bank to cash it). 

I suppose this might seem a bit overly-aggressive. And I do have some sympathy for their plight (there but the grace of God, and so on). But that’s my money – if they’ve promised to pay it, then they’re going to pay it. Even if it means I have to start door-stepping people...