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Use These Strategies to Get Paid More Quickly

You don't have to always be at someone else's mercy.

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This story appears in the November 2016 issue of Entrepreneur. Subscribe »

First step: Set better terms. Otherwise, you're at someone else's mercy.

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At one of my companies, we sold six-figure packages of services to Fortune 500 companies. We assumed that getting a signature on a purchase order meant we'd be paid. That turned out not to be true, because our customers' departments often had very different ideas. So once we wised up, we made sure someone in their accounts payable signed off on our payment terms before we provided the services -- and we made sure to find out exactly who would be handling our invoice and payment.

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