instantly clean up your a/r: a fool proof plan with clear roi
DESCRIPTION
Everyone in the construction industry has an aging A/R report, and everyone in the construction industry has debts that migrate across the sheet into "bucket #4," the dreaded 90+ days category. What can you do about these debts? Those in the construction industry can use their lien and bond claim rights to instantly clean up some of these aging receivables. This Webinar explores a "fool proof plan" to get paid on some of these hopeless accounts. The plan has a clear ROI. Is your bottom line ready for some extra cash?TRANSCRIPT
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A Fool Proof Way To Clean Up Your A/R
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Every Wednesday1pm CST
Signup At:zlien.us/z-web
Construction Credit Knowledge
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PAY WHEN PAIDPAY IF PAID
JOINT CHECK AGREEMENTSBANKRUPTCIES
DELAY DISPUTES & DAMAGESWORKMANSHIP DISPUTES
CHANGE ORDERSSCOPE OF WORK ISSUES
CODE INSPECTION VIOLATIONSPREVAILING WAGES
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PAY WHEN PAIDPAY IF PAID
JOINT CHECK AGREEMENTSBANKRUPTCIES
DELAY DISPUTES & DAMAGESWORKMANSHIP DISPUTES
CHANGE ORDERSSCOPE OF WORK ISSUES
CODE INSPECTION VIOLATIONSPREVAILING WAGES
There are a lot of reasons why
getting paid is tough in your industry
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Every time you can’t collect a $100,000 Debt
The company needs a lot of money to break even:
10% NET: $1m5% NET: $5m1% NET: $10m
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Time Flies
10DAYS
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Time Flies
30DAYS
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Time Flies
60DAYS
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Time Flies
90+DAYS
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Your A/R Report Gets Really Long.CONSEQUENCE
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You can’t call everyone.CONSEQUENCE
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Debts Slip Away.CONSEQUENCE
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WHATCan YouDO?
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You Need A Payment Funnel
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Payment Funnel
Protect Mechanics Lien & Bond Claim RightsOn All Projects At The Start
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Payment Funnel
Smart CompaniesAlways SendPreliminary NoticesBecause they prioritize your invoices above others.
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Payment Funnel
Protect Mechanics Lien & Bond Claim RightsOn All Projects At The Start
GCs and Owners Track Who Does And Does Not Send Notices
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Payment Funnel
30 Days OverdueSend Notice of Intent
Protect Mechanics Lien & Bond Claim RightsOn All Projects At The Start
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Payment Funnel
What If...50% Of Your Trouble AccountsWOULD PAY YOU
Within just 20 Daysof sending 1 little documentThat was really, really inexpensive
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Payment Funnel
30 Days OverdueSend Notice of Intent
Protect Mechanics Lien & Bond Claim RightsOn All Projects At The Start
The Notice Of Intent To Lien
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http://zlien.us/incredit
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Payment Funnel
30 Days OverdueSend Notice of Intent
75 Days OverdueFile Mechanics Lien
Protect Mechanics Lien & Bond Claim RightsOn All Projects At The Start
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Why Mechanics Liens Rule
View This Other Presentation To Learn Why Mechanics Liens Work To Get You Paid
Or Articles Here:Why Lien
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Construction Lawyers Agree:
“A personal guarantee or joint check agreement is nice to have, but not a substitute for a lien or bond claim.”
Joe Virene, Esq.Texas Subcontractor & Supplier Legal Guide
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Construction Lawyers Agree:
“An Unpaid Contractor’s Best Friend”
David T. Arena, Esq.Illinois Mechanics Liens: Di Monte & Lizak LLC
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Construction Lawyers Agree:
“An essential collection tool for contractors and material providers in construction projects.”
Paul C. Bauducco, Esq.Smart Tools of the Construction Industry
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Payment Funnel
30 Days OverdueSend Notice of Intent
75 Days OverdueFile Mechanics Lien
File Foreclosure LawsuitBefore State Deadline
Protect Mechanics Lien & Bond Claim RightsOn All Projects At The Start
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Payment Funnel
30 Days OverdueSend Notice of Intent
75 Days OverdueFile Mechanics Lien
File Foreclosure LawsuitBefore State Deadline
Protect Mechanics Lien & Bond Claim RightsOn All Projects At The Start
NOT LIKELY!
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Payment Funnel
5% Or Less Of Projects Need
2.5% of ProjectsOr Less Need
< 1% of ProjectsOr Less Need
100% Of Projects Need
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Payment Funnel
50 Accounts
25 Accounts
9 Or Fewer Accounts
1000 Accounts
1 Account = $10,000
$10,000,000 Of Accounts90k Uncollected (in Litigation)
= 0.9% Uncollected Percentage
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Payment Funnel
50 Accounts
25 Accounts
9 Or Fewer Accounts
1000 Accounts
1 Account = $10,000
$10,000,000 Of Accounts90k Uncollected (in Litigation)
= 0.9% Uncollected Percentage
And Even That May Be Collected Through Litigation
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Payment FunnelClient Example
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Payment FunnelClient Example
Bad Debt Write Offs:
2010:
2011:
2012:
.035%
.067%.012%
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Payment FunnelClient Example
Bad Debt Write Offs:
2010:
2011:
2012:
.035%
.067%.012%
“We have a lot more options now if we want to work with
someone who has risky credit or can’t pay our
deposit upfront.”
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Export Your Aged Receivableswith Project Information
Send to zlien for importing
We Calculate Which AccountsStill Have Lien Rights
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Create Actionable DeadlinesKnow which accounts are eligible for liens
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Create Actionable DeadlinesKnow which accounts are eligible for liens
Send Notices of Intent &Get Paid On Half
File A Lien On The Remainder And Get Paid on
> 65% Of Those
Continue Protecting Your Lien Rights To Improve DSOs
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Create Actionable DeadlinesKnow which accounts are eligible for liens
Send Notices of Intent &Get Paid On Half
File A Lien On The Remainder And Get Paid on
> 65% Of Those
Continue Protecting Your Lien Rights To Improve DSOs
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Create Actionable DeadlinesKnow which accounts are eligible for liens
Send Notices of Intent &Get Paid On Half
File A Lien On The Remainder And Get Paid on
> 65% Of Those
Continue Protecting Your Lien Rights To Improve DSOs
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RESULT: Lower DSOs, Less Bad Debt
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http://zlien.us/bulkliens
Learn More About This Problem
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Questions?