Essential Debt Collecting Skills – Negotiating (Part 4)

“The secret of many a man’s success in the world resides in his insight into the moods of men and his tact in dealing with them.” – JG Holland 

Continuation of “Essential Debt Collecting Skills – Negotiating” (Part 3)

Negotiating is a necessary life skill we all have to some degree. It enables us to achieve the best results for both ourselves and the other person. Unfortunately in lots of businesses negotiation is an area that is often neglected, but that can improve a firm’s profitability as well as its standing in the eyes of its clients. This continuation of negotiating tips has been written to provide guidance in negotiation skills to debt collectors, but it is also a general guidance in everyday life negotiating. So, what are some other principles worth using in negotiating? Continue reading

Essential Debt Collecting Skills – Negotiating (Part 3)

“Quality in a service or product is not what you put into it.  It is what the client or customer gets out of it.” – Peter Drucker 

Continuation of “Essential Debt Collecting Skills – Negotiating” (Part 2)

‘Since negotiation is the process we use from infancy until just before we die, the issue is not a matter of recognizing that negotiation is a fundamental life skill. The real goal should be to understand how to negotiate effectively to reach wise solutions to all kinds of issues. Continue reading

Essential Debt Collecting Skills – Negotiating (Part 2)

“I’d like to add that negotiating is not something to be avoided or feared – it’s an everyday part of life.” – Leigh Steinberg

Continuation of “Essential Debt Collecting Skills – Negotiating” (Part 1) 

Negotiation is a rather complex interaction. Capturing and controlling all its complexity is a very difficult task that requires knowledge, understanding and lots of practice.  Below are some of the essentials of negotiating:

  • Know what you are trying to achieve

Having a clearly defined goal before you start the process of negotiation is a must.  At first, it really helps if you write it down and keep it somehow visible for yourself.  Later, when you get more practice and experience this would come naturally as the first step. Continue reading

Are Your Customer Complaints Giving You a Headache?

“I will not be as those who spend the day in complaining of headache, and the night in drinking the wine that gives it.” 

Customer complaints are a part of every business, yet many business owners experience it as their worst nightmare.  Why is it so difficult to listen to someone giving you free advice on how you can improve and grow your business?  When customers complain, what is really in there for you and your business?

Commonly, most of bad comments and complaints from your customers come up at the time when you are trying to get paid for your services. Continue reading

Debt Collection Tips – Making a Telephone Call

For many business owners, making a debt collection call is one of the hardest things to do. 

Certainly, there is a good reason for this kind of hesitation. Making debt collection calls is an art. You need to be alert all the time, anticipate what the customer is going to say and at the same time be ready for anything. You have to stay in control of the phone call, and the same time you have to be gentle enough to lead the client to the resolution stage. Making collection calls has clearly some advantages over other collecting methods. Continue reading