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Category Archive: Business Practices

Business Practices

Aug 24

Throw Debtors This Curveball For Powerful Results

It’s a well-known fact for both commercial and consumer collections: It’s an adversarial animal by its very nature. No one, and we mean NO ONE enjoys getting a collection call. Stereotypes happen when enough people in a specific common group behave in a similar manner over time. Unfortunately some collectors have a history of bullying …

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Aug 10

Good Debt / Bad Debt: Forbes Offers These Thoughts

A recent article in Forbes titled, The Hard Truth About Debt For Entrepreneurs gave insight into the concept of ‘good debt’ vs ‘bad debt’. The author comes right out and says there’s no such thing as good debt. But then goes on to qualify the statement reminding the reader that defining the term properly is …

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Jul 06

6 Practical Ways to Motivate Your Staff

Productivity goes up when people feel motivated to do their best work. But how can this be accomplished? Motivation typically comes from within the individual. For the business leader, that means s/he must create an environment that fosters self-motivation. And since every industry has its own unique attributes, the ways in which you choose to …

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May 11

Customer Visits Can Totally Change Payment Practices

It may seem that adding a travel budget for your Credit Manager is nothing more than an added expense. But done right, visits to major customers could change the entire ballgame. Each visit will benefit from a plan. Compile pertinent information in advance of the visit like payment history, credit limit, and a list of …

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Apr 06

8 Collection Staff Training Tips

To create the culture you wish to create takes time. It takes hiring the right persons and then training them to move in the direction you envision for your business. There are no corners you can cut. Your collection staff must be trained to view their role as customer service providers. Anyone who brings to …

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