Sales Prevention and Daily Email Vienna 9 Aug, 2019 Vienna's Views sales prevention No comment I know, I’m supposed to be writing about Collection Prevention, that’s what we do here, but there are so many wonderful examples of Sales Prevention! My Story Allow me to share – I’ve been purchasing from a particular vendor for over 20 years. I only purchase once, maybe twice a year – but like everyone […]
On Becoming a Better Parent Vienna 26 Jul, 2019 On a Personal Note No comment “It’s a shame we have to practice parenting on our children.”Vienna We expect, perhaps even assume, that when we do something for a very long time we get good at it. I’m not sure it’s true though. In fact, I think that unless we set out to be good at it and stay focused on […]
Small Balance Collections Vienna 19 Jul, 2019 Small Balance Collections, Vienna's Views Small Balance Collections No comment I’ve been writing about the importance of Small Balance Collections for years but still many if not most people don’t agree with me. Virtually everyone that I talk to wants to “focus on the big balances.” On the face of it, that makes sense. After all, the time it takes to collect a small balance […]
What is Accounts Receivable Management? Vienna 4 Jul, 2019 Accounts Receivable Managment, Vienna's Views accounts receivable managment, accounts receivable system No comment Am I being obtuse if I say Accounts Receivable Management is the management of your accounts receivables? I suppose so … let’s begin with the definition of Accounts Receivable, I’ll give you the Wikipedia definition first, then mine. Wikipedia defines Accounts Receivable as: … a legally enforceable *claim for payment to a business by its […]
How to Write a Collection Letter Vienna 27 Jun, 2019 Accounts Receivable Managment, Collection Letters, Vienna's Views No comment It seems a lot of people enter the search term “How to Write a Collection Letter” into Google. When I first became aware of that I was, quite honestly, mildly baffled – or more accurately I wasn’t sure what folks were really asking. So I decided to write a brief answer to every question I […]
On Red Flags and Warning Signs Vienna 4 Jun, 2019 Collection Prevention, Vienna's Views No comment I know I’m beating the same old drum but it all bears repeating. It always (almost) comes back to you, not the guy who owes you the money, he’s got his own problems. If you want to avoid collections (doesn’t everyone?) you’ve got to pay attention… here’s a list of red flags and warning signs […]
Some Thoughts on Thinking Vienna 16 Apr, 2019 On a Personal Note, Vienna's Views No comment “It is tempting, if the only tool you have is a hammer, to treat everything as if it were a nail.” Abraham Harold Maslow 1908 – 1970 Do you Think? Or do you fantasize, obsess, argue and defend positions? Or maybe a better question is what’s the ratio of your thinking to all of the […]
Discounts & Late Fees Vienna 5 Apr, 2019 Vienna's Views No comment Charging late fees and offering discounts for early payment may seem like a no brainer to you but in fact there are differing opinions. In general, I’m not a fan of either. Our friends over at The Kaplan Group argue in favor of late fees and against discounts for early payment. Their experience with discounts […]
Collection Prevention Part 4 Vienna 1 Mar, 2019 Accounts Receivable Managment, Collection Prevention, Vienna's Views Due Diligence No comment Due Diligence & Credit Applications I’ve said it many times but it bears repeating, many, if not most of your collection problems are preventable. In the words of the eminently quotable Benjamin Franklin “An Ounce of prevention is worth a pound of cure”. A Quick Review Part I – Get complete contact information from new […]
Another Awesome Resource Vienna 11 Feb, 2019 Vienna's Views No comment I first read this book in early 2018 and it literally transformed the way I plan and work. I actually feel guilty for not having shared it with you sooner. It’s a simple but powerful concept – distilled, of course, into a book written by Brian Moran and Michael Lennington. The title and concept is […]
