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.

---

Keeping Team Meetings Vibrant

Meetings can be the life-blood of an organisation or the... Read More

Encouraging Behavior That Gets Results

You're the boss, and you have every reason to feel... Read More

ISO 9001 the Process Approach to Quality Assurance

What is the Process Approach to Quality?The ISO 9001 2000... Read More

How to Get Your Procedures Project Done

Wouldn't it be nice for business owners and executives to... Read More

Credibility - A Golden Key to Becoming More Influential

You have been named a new leader in your organization,... Read More

6 Shared Factors of Successful Executives

These factors where determined by interviews with and books from... Read More

Executive ESP: A Pathway to Success!

We all have psychic abilities that we use daily, although... Read More

Enhancing the Motivational Climate of Your Workplace

It has been well documented that employees' productivity and job... Read More

Enable Continuous Improvement of IT Services through ITIL

One of the major benefits, if not THE benefit of... Read More

Nine Vital Lessons For Avoiding Training Fads That Waste Time, Money and Enthusiasm

Unfortunately, at least two thirds of much of the training... Read More

Implementing Change

There are different reactions that individuals experience during time of... Read More

How to Coach Your Employees - 5 Simple Steps Anyone Can Do!

Want to get more from your people, but you don't... Read More

Management Consultants, Creativity, Innovation

Most firms have intelligent, capable, knowledgeable managers who are very... Read More

Five Overlooked Ways To Hire Winners

Here is a true story. My dentist did a "clinical"... Read More

Leadership in Troubled Times

Leadership in Troubled Times The... Read More

Managing Dickheads

"We are so different and individualistic that we can't work... Read More

Using the Six-Sigma Methodology to Improve Wafer Fab Productivity

As a result of consolidation of operations and significantly increased... Read More

Group Decision Making : Are the Decisions Really Made by the Group?

GROUP DECISION-MAKING: Many managers feel they are well-versed in areas... Read More

Stomp Out Leeches In Your Company

Recently, I felt appalled to see a political candidate running... Read More

Improved Communication to Improve Results

Facilitating good communication can make the difference between a well... Read More

Understanding How Change Has Changed

There seems to be an assumption that change is a... Read More

The Ivory Tower Syndrome

"His cardinal mistake is that he isolates himself, and allows... Read More

Riding the Waves to Success

Last week I was confused and frustrated about a few... Read More

What Every Manager Should Know About How to Conduct Successful Training Activities

Whether you are training preschoolers in the classroom or executives... Read More

The Punitive Approach to Marginal Performers

MANAGING A MARGINAL PERFORMER: Often a marginal performer, even after... Read More

Overcoming Perfectionism

Perfectionism can get in the way of building or marketing... Read More

Why Management Kills Creativity

Ten or so years ago, an international consultant, specializing in... Read More

Structure Your Payment Offers to Sell More Products

The way you structure your payment offers can increase your... Read More

Five Essential Hiring Practices

Recruiting and hiring are often done in haste, leaving the... Read More

Knowledge Management - Creating a Sustainable Yellow Pages System

How can I "know who knows" None of us can... Read More

Managing Group Meetings

MANAGING SMALL MEETINGS: Keep the size of the meeting as... Read More

Effective Ways to Give Performance Feedback

Consequences of Not Giving Effective FeedbackLet's take a look at... Read More

Create Your Methodology Based on a Standard Framework - Part One

OK. So you have decided that your organization has to... Read More