How to stop the “drift”

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How to stop the “drift”

Focus on the ‘fast money‘ when chasing slow payers.

It took the larger, older accounts to

a:  get large

b:  and the older they are, the harder they are to collect.

This is the ONLY way to stop the ‘drift’ of accounts from ‘current’ to ’90d+’ on the Debtors Trial Balance.

These are the sort of results you will ALWAYS get if you do.

chasing overdue debts? stop the drift first

chasing overdue debts? stop the drift first

Are these figures “freaky”? One-offs?

No way. I came across some old records of ours last week which sort of proves my point.
They’re from 10 years ago!

chasing overdue debts? stop the drift first
chasing overdue debts? stop the drift first

Although everyone looks at the 90d+ figures to see what sort of ‘results’ are being achieved, it’s really the 60d column that tells all. Both tables and graphs show that chasing the ‘fast money’ is working.
See “turn the taps off“.

By | 2017-07-17T05:40:28+00:00 April 5th, 2011|miscellaneous|0 Comments

About the Author:

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.

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