“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 […]
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 […]
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 […]
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 […]
Hello, My Name is Vienna and … If you read my 1st article on this subject you might remember I expressed some skepticism about the title given to me and accepted, I admit with some sense of satisfaction, by my family a number of years ago. But really can a person who is on level […]
Here are some quick tips for making effective accounts receivable collection calls. Make the calls! It’s easy to find something else to do but making your collection calls regularly will improve your cash flow and reduce your bad debt losses. It’s the single most effective way to make sure you get paid on time.Start with […]
Accounts Receivable Collections Collection Prevention Part III Not to be annoying but I have a couple more things to say about invoicing. Last month I failed to mention either terms or late fees. Both are important so I think it’s worth taking up a bit more space to talk about them. Terms First terms, you […]
Accounts Receivable Collections Collection Prevention Part 2 The series, as the title suggests is all about “collection prevention” stop collection problems at the source, which unfortunately is often you and your company. It’s my contention, after 30+ years of making AR collection calls, that a full 70% of collection problems are preventable, and you are […]
Accounts Receivable Collections Collection Prevention – Part 1 This series is based on my belief, after nearly 30 years of making collection calls in over 40 industries, that almost all collection problems are preventable. That means YOU could have done something to save yourself the aggravation and expense of having to use a collection […]
