|
|
| www.1001TopWords.com |
|
|
How Businesses Can Stop Wallowing in Bad Debt and Prevent It in the Future
"Become the Squeaky Wheel", a new book just published, explains that getting customers involves more than advertising. Michelle Dunn presents examples of credit procedures and policies to help creditors or business owners collect bad debt and prevent it in the future. "One of the best things you can do is implementing a credit policy or have each new customer fill out a credit application," says Michelle Dunn. "A credit application will protect you and let your customers know you mean business. Done correctly, it can increase your overall profits now and in the future. Having a sound credit policy in place helps ensure that you will get paid, as long as it is enforced. Most customers who open accounts for credit expect to fill out something and will not complain, but will realize you are serious and smart about your business. Customers who have to fill out forms when they set up an account might also take advantage of direct pay options which lowers your receivables immediately and creates more sales for your business. It may cost you some money to have credit applications and other forms printed, hire someone to run your Credit Department or do credit checks, but it will result in more money for you and your business. Michelle Dunn has over 17 years experience in credit and debt collection. She is the founder of Never Dunn Publishing, LLC, is a writer, consultant and the Editorial Advisor for Eli Financial Debt Collection Compliance Alert Newsletter. Michelle started M.A.D. Collection Agency and ran is successfully for 7 years. She also owns and runs Credit & Collections.com an online community for credit and business professionals. She has written 5 books in her Collecting Money Series She is currently writing a book for the Streetwise Series, part of the Adams Media Corporation. In addition to writing and marketing her books, Michelle moderates and runs Credit & Collections.com and was a member of The American Collectors Association for 9 years.
|
|
|
|
RELATED ARTICLES
Ten Business Reasons Why Asking for Help Works In fact, bringing your people - any of them - into your confidence and asking for help, is a very powerful tool indeed. The form of words' "I need your help", works best. Here are Ten Reasons why this is:- Building Trust in Your Business Relationships - 10 Steps There are some simple things you can do with your people to ensure that they start to trust you. As a letter from Mike Emmott of the Chartered Institute of Personnel and Development in the UK says, in April 2005's UK Management Today says:-"Our surveys show that only one in four employees trust senior management to look after their interests"Is that not appalling? How on earth can businesses develop, survive and above all hang onto their best people if they are seen to be untrustworthy?It's horrible.There is an article below which talks a little about 'Rapport Building', but to supplement that, here are Ten Steps to help you build trust with your people. ISO 9001 and Total Quality Management Total Quality Management Creativity and Innovation - Large Firms Versus Small Firms There is a pervasive assumption that small firms are more creative and innovative than larger firms. That is, they identify problems and generate ideas (creativity) and idea select, develop and commercialise (innovate) those ideas to a greater degree than larger firms. However, there is a large degree of untruth to this assumption: Tales from the Corporate Frontlines: Creating a Culture of Empowerment This article relates to the Culture & Climate competency, commonly evaluated in employee satisfaction surveys. AlphaMeasure defines climate as the effect an organization has on the employees, while culture refers more to the acceptable behaviors, attitudes, and habits of the organization as a whole. Some relevant topics include employee values, attitudes, and morale throughout your organization. Knowing and understanding workplace culture and climate leads to a better understanding of what factors influence employees. In relation, the level of service your customers receive is almost always influenced by the culture and climate of your organization. Evaluating this competency can be especially useful if your organization is experiencing customer service related issues or problems working together internally. 3 Reasons Why CRM Strategies Fail Customer relationship management (CRM) is one of the most effective tools for improving customer relationships and therefore increasing revenue, customer satisfaction, and customer retention. Unfortunately, some CRM strategies fail. This leaves CRM vendors and their customers baffled, but there a few common reasons why a CRM strategy will fail. Leadership Skill: How to Handle Difficult Conversations A good leader has the ability to empower others. It is important that a leader develop people who want to share and help in carrying out the goals of the organization. If it is your intention to develop a company where employees feel valued and appreciated, then how you handle disagreements can be crucial. The Dark Side of Help Desk SLAs You just signed a Help Desk Service Level Agreement (SLA) and now think things will get easier. However, you may soon be falling into one of these traps: Give Yourself a Boss Day Gift, Part 2: Are You the Position or the Person? Are you the position or the person? ISO 9001 Okay Now You Have It How Do You Market It? Marketing ISO 9001 2000. Commercial Collections Billing Practices Advice Swiftness is the key to collecting past due commercial accounts because commercial accounts depreciate more faster than consumer accounts. Managing Dickheads "We are so different and individualistic that we can't work together." Subroto Bag chi, a senior executive in wipro technologies and Indian Technology MNC, said to his chairman in a straight talk. But Premji, the chairman, simple reply to the statement was, "That's because we should work together." Create Your Methodology Based on a Standard Framework - Part One OK. So you have decided that your organization has to improve the way in which it works. You have chosen to implement a methodology as the best way to achieve this goal. And now you ask yourself, where do I start? Whatever the discipline you are trying to model (from software development to supply chain management), it is highly probable that a standard framework exists, that can serve as the basis for your own methodology. Cheat Sheet; Understanding The MSDS and Your Obligations In The Workplace To Employees MSDS SHEETS Why Management Kills Creativity Ten or so years ago, an international consultant, specializing in employee involvement and team development, published a story relating to workplace communication that is heartwarming and damning at the same time. Organizational Culture, Creativity, Innovation It can be concluded with great certainty that certain organizational cultures inhibit creativity and innovation whilst others foster it. Some organizations are just better at identifying problems, generating and selecting valuable ideas and developing and commercialising them - this is why those firms tend to maintain competitive advantage and remain leaders in their field. Why Your Business Needs an E-Mail Policy Why is it imperative to have a company E-Mail Policy? It issimply good business, that's why! In addition, having a clearand detailed e-mail policy in place, one that employees sign anddate before they are allowed access through your businesss'computers, is critical to you being able to enforce or react tosituations that may arise at a later date. Corporate Governance for Business Owners It is clear that good Corporate Governance is in the best interests of shareholders of public companies, but how can it benefit shareholders of private companies and other business owners? Human Resource Employee Risk Profile - Management Risks Explained Human Resource Employee Risk Profile How To Learn Great Management from Our Kids Learning comes from many places. And one of the most wondrous opportunities is right in front of us. At dinner, at play and at bedtime, every evening. It is there on the sports field, on vacation and during homework. Our children have clues we can use in our business and organisation, right away..
|
| © Athifea Distribution LLC - 2013 |
