There is an old expression that you can attract more bees with honey than with vinegar. Does this relate to business to business debt collection? Will a friendly approach to debt collection result in a faster payment than a more direct approach in which the collector is “all business.” Honestly, I don’t have any statistics [...]
As a consultant, I have occasionally seen dunning notices and other correspondence being sent by my clients to delinquent customers with stickers, stamps or other messages considered to be or intended to be humorous reminders to pay the past due balance. In my opinion, when you use humor in collection correspondence you are trivializing the [...]
Many years ago, I feared public speaking. I had all the classic symptoms of anxiety related to making a speech: I froze up. I felt sick. I wanted to be anywhere but in front of an audience. I tried to convince others that they were a better choice to make the speech. One day I [...]
“We must always change, renew, rejuvenate ourselves; otherwise we harden. Each New Year gives us the opportunity to start again.” One could argue that for the Credit Manager, each new month is an opportunity to start again. The previous months problems resolved and a new batch requiring your attention. Last month’s unresolved issues are now [...]
Several years ago, a very good friend of mine – let’s call him Roy – accepted an early retirement package. He decided that he was too young to retire so he started a commercial collection agency in Florida. Naturally, he called his friends to tell them about this new chapter in his life and to [...]
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