Follow-up
Collection practices should be flexible, but your company should develop a formal collection policy which outlines the timing and type of debt collecting efforts given a number of days
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Making Collection Calls
Making collection calls is a skill you can actively develop No business owner wants to feel like a mobster or loan shark threatening to, metaphorically, break someone’s legs if they don’t pay.
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Keep Contact Information
Good Communications lead to Good Collections. Emails are all important avenues for communication, not just for marketing but debt collection as well
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Avoiding Bad Debts Part 3
Most entrepreneurs know that it’s critical to send out billing reminders as soon as payment is past due. You can provide a benefit by reminding them of when bills are coming due
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The Game of Thrones is, "A Lannister always pays their debts." Even the 'bad guys' in Game of Thrones know that they have to pay their bills
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Start by developing a written payment policy. One of the best actions you can take to help customers pay promptly is to put your expectations
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My Customer Hasn’t Paid Me
Four important things that can significantly increase your chances of getting every penny owed to you. 1 In small business to business transactions
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Cash Flow Problems? Common Reasons for Why Businesses Fail
When playing the game it’s easy to get caught up in looking at the scoreboard instead of playing the game with eyes on the ball. Cash Flow
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The Collection of Debt and Morality Part 3
Part 3 of 3 The Collection of Debt and Morality: The legitimacy of private debt collection agencies and the problem with big government.
Read articleThe Collection of Debt and Morality Part 2
Part 2 of 3 The Collection of Debt and Morality: The legitimacy of private debt collection agencies and the problem with big government.
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