In any business, there is a fine line between timely payment collection and ensuring customers are satisfied and willing to return.

When it’s your job to tread that line, you have to be firm enough to protect the company while remaining professional, friendly and ready to make special accommodations under trying circumstances.

By Mike Landucci, Vice President Woodruff Sawyer & Co.

Managing risk is important for companies of every size, but it's essential for small and medium sized contractors who want to achieve sustainable growth over the long term.