About mTodd2020

Have you ever wondered why a client does business with you and then ignores your invoice like they had no intention of paying it in the first place or they treat you like their own personal line of credit, leaving YOU dangling, waiting months for their payment? Unfortunately this situation is all too common and can even be puzzling for the most experienced business owner. If you’ve ever had to handle outstanding accounts or you are just so over non-payers, then we can help. Real-world skills, solutions, tips & strategies to get more accounts paid on time, and, most importantly, how to maintain customer goodwill while keeping YOUR cash flow in the positive. You will find the blog posts helpful but to get real results, contact us by using any of the forms on this site, by email or by phone. I’ve been involved in the management of accounts for over 30 years, heard every excuse in the book, can spot a non-payer at 20 paces. Finance Companies in the 70s (systematic, tough), professional firms in the 80s (no systems, too gentle) and, since then, just about every other sort of business you can think of. I’ve written books on the topic, spoken all over the place about it and the blog in this website is my way of “giving back”. I hope you find it helpful.

deal with difficult people like Buddha does

Occasionally, fortunately rarely, when chasing slow payers (it's a very sensitive matter), you'll come across someone who's rude, abusive even.Most times, it's not YOU they're angry at, it's the situation or something totally nothing-to-do with the account OR they're just nasty people!This short story might help you deal with it.Buddha was well known for his [...]

By | 2020-03-09T03:09:51+00:00 August 7th, 2015|techniques|0 Comments

how to change “Car Park Chatter” in Schools

I respect the philosophy that, and I quote, "No Catholic child is excluded from Catholic schools on the grounds of genuine financial difficulties." But, from a commercial point of view, this makes collecting unpaid school fees in this environment extremely difficult. Many Islamic schools have the same philosophy. Most people ARE honest. I've worked in [...]

By | 2017-07-20T00:16:43+00:00 April 5th, 2015|Uncategorized|0 Comments

don’t forget the simple circular

A few years ago we sent a circular with the following wording to selected parents of girls in a private college whose fees were overdue. It didn’t go to all parents with overdue fees, just to those that were approved by the Business Manager. It wasn't personalised, just included with the next terms fees - [...]

By | 2017-07-13T08:51:39+00:00 April 3rd, 2015|wording|0 Comments

round no or ‘odd’ amount when negotiating?

When negotiating a payment arrangement with a debtor who WANTS to pay but, quite simply, can't afford the full amount, will a round number (eg: $1,000 per week) or an 'odd' amount (eg: $995 per week) get you a better agreement? According to a Columbia Business School study it may be better to avoid using [...]

By | 2020-03-24T01:50:32+00:00 March 31st, 2015|Uncategorized|0 Comments

how NOT to get paid

The most commonly applied “collection procedure” for many businesses is to wait for payment. Statements get sent out once a month and ... they wait some more.       Many go like this:- 1. They do the job. 2. Send the bill. 3. Wait for payment. 4. Send a monthly statement. 5. Wait for [...]

By | 2017-07-13T08:51:39+00:00 March 23rd, 2015|Uncategorized|0 Comments

Always use a “Collection Hierarchy”

Using a collection hierarchy and following up unpaid accounts very quickly, while being polite but persistent, is much simpler, less confrontational and far more effective than chasing slow payers later and harder. How to set up and work a Collection Hierarchy Start chasing accounts gently with an individual. If they're not effective in getting a [...]

By | 2017-09-20T10:17:02+00:00 March 20th, 2015|Uncategorized|0 Comments

Chase the wrong person on purpose.

You've had a hard day. You get home and walk in the front door. Joy. Calm. Peace. You change. Your wife calls out, "Oh Honey, the accountants called today and left a message for you to call back. They asked if you can call them back tomorrow". (Note: No details of why they were calling [...]

By | 2017-07-13T08:51:39+00:00 March 16th, 2015|Uncategorized|0 Comments

Don’t ask a Yes/No question – ask HOW

One of our clients was an Orthodontic Practice. Parents weren't paying for their Initial Consultation on the day of the consultation. "Please send me an invoice", being the most common answer to the Receptionist when asked "Would you like to pay for your consultation today?". The invoice was sent out (extra work), and parents were [...]

By | 2020-03-30T06:43:15+00:00 March 12th, 2015|Uncategorized|0 Comments