Are you getting the collection results that you want and need? No? Are clients paying you later than they should be? Yes? Then perhaps it’s time to re-think about how you are managing your debtors? Are you …
- Starting everything early? Keeping your trading terms as tight as the market will bear, following up overdue payments promptly?
- Being the Good Guy at all times? By always speaking the Good News and writing the Bad News, having a Collection Hierarchy in the business, even to using “phantom” helpers?
- Being very hard to ignore? By having a structured Collection Process written down, persistently following up any late payers, using Time and Fear of the Unknown and making it Super Easy for accounts to be paid?
This little story below is excellent food for thought. Enjoy.