Ed Laflamme LIC

Ed Laflamme LIC

started his own business from scratch, built it up, sold it and then wrote a book about how he did it. So, he’s been there. He understands your frustrations, worries and concerns. Some of you may want to buy companies, while others may want to sell the one you own. You need expert assessment and guidance before you can move forward. Ed has experience in this area. He is recognized as a CLP: Certified Landscape Professional. Read Ed's full bio.

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I always enjoy your videos and thank you for sending them. I’ve met Ed on several occasions and have enjoyed his presentations as well. Regarding this topic of receivables I instituted a strict COD policy with all residential customers 25 years ago to stop the constant collection headaches that 1 in 4 customers who did not pay presented. I coupled this with a rating system of “A-B-C”. I immediately noted the backlash came from the “C” customers-many of whom I told outright that if they did not like the policy they could use the services of my competitors. Long story short I now have an honest customer base that pays as services are rendered. In 25 years I have collected 100% of all monies billed (and the previous 23 years spent collecting all winter are a distant memory).

I have in the past been offered to purchase other companies customers. This occurs in the fall and winter as irrigation is seasonal in the Northeast. I never surprises me that as I see what is offered there is always 20-25% of the customer base that still has outstanding balances! I tell the sellers I will only buy the paying customers at a discount to their asking price proportionate to their collection rates-some have said OK and others say no. Simply put I have no desire to purchase “C” customers.

Keep up the good work-this industry of ours needs to be firm with all money matters. Like I always say-LET YOUR COMPETITION FIGHT FOR THEIR MONEY!

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