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 […]
Contingency Collections and How it Works Sometimes we forget not everyone understands industry jargon. No collection no fee is the concept behind contingency collections and it’s the collection model most people are familiar with. Here’s how it works. You give me your collection account and if I can collect it I keep a percentage of […]
Workaholic, at least that’s what my kids have been telling me for years. I was skeptical, in fact, I didn’t actually believe workaholism was a real thing. It seemed to me if you have work to do, you do it and I always had work to do. It turns out it is a real thing […]
The Truth About Collections Ben Franklin first said it in 1735 almost 300 years ago – and it’s as true today as it was then. “An Ounce of Prevention is Worth a Pound of Cure” The average collection agency has about an 11% recovery rate, the good ones about 30%, that means 70% […]