Cash Flow – Does Fear of Rejection Stop You from Collecting Debt?

“Consult not your fears but your hopes and your dreams. Think not about your frustrations, but about your unfulfilled potential. Concern yourself not with what you tried and failed in, but with what it is still possible for you to do.” – Pope John XXIII 

How does fear from rejection stops your business cash flow grows?  What haven’t you achieved in your business dealings because you didn’t have the tools and strategies to break through fear? Where would your cash flow be if fear of asking for money was no longer a barrier? What if it only took you acknowledging and understanding your fears to change this?

When debt collecting and asking for payments the most common fears that small business owners experience are: Continue reading

Debt Collection – How to Get Customers to Pay Up (Part 1)

“Being on par in terms of price and quality only gets you into the game.  Service wins the game.’ – Tony  Alessandra 

If you want to make things happen the ability to motivate yourself and others is a crucial skill. Smart businesses use motivation to get results in their debt collecting. Motivation requires a delicate balance of communication, policy and incentives.

At the same time, if you want your customers to pay up consistently and on time, you have to have the ability and techniques to make them want to avoid the negative consequences if they do not pay debt on time. Continue reading

How To Not Collect a Debt (Part 2)

“I like to do all the talking myself. It saves time, and prevents arguments.” – Oscar Wilde

” A foolish man tells a woman to stop talking, but a wise man tells her that her mouth is extremely beautiful when her lips are closed” – unknown 

The video in the previous post is funny, as it teaches a crash course on How not to talk in a debt collecting call. 

When making a call, do you make note of the following;

  • The tone of your voice?
  • The  knowledge of the actual debt?
  • The answers given following the client’s comments? Continue reading

How to collect debt and keep the client for years to come

‘As I go through all kinds of feelings and experiences in my journey through life — delight, surprise, chagrin, dismay — I hold this question as a guiding light: “What do I really need right now to be happy?” What I come to over and over again is that only qualities as vast and deep as love, connection and kindness will really make me happy in any sort of enduring way.’ Salzberg

‘If you’re a debt collector, it’s like getting struck by lightning every now and then. You’re having a great day and then BLAM! Your debtor who you chase for payment starts being really unpleasant and yelling at you over the phone. Something is terribly wrong and you are in the hot seat.

What do you do? Continue reading