How Businesss Mess Up Their Credit Policies
In "Become the Squeaky Wheel" a book recently published, Michelle Dunn demonstrates the major areas a business should focus on to ensure a satisfactory customer experience.
One mistake business owners make is not having a credit policy in place when they open their business. This can be easily corrected by implementing one at any time. "At the very least, every business should have every customer fill out a credit application," says Dunn.
"In the businesses view, it seems easier to just process the order without obtaining any or limited information on the customer. Most new business are so excited to make the sale they don't want to offend the customer by asking them to fill out a credit application," explains Michelle Dunn.
Another mistake business owners make is not to ask for the money once it is due. They were so happy to make the sale, and now don't want to make the customer mad by asking for the money, even if it is past due.
Show potential customers that you are proud of what you do and that you are serious, and have a sound credit policy in place. The customer that is offended or doesn't want to fill out the credit application is probably not someone you want as a customer anyway.
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.
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