If
you’ve spent time around a toddler, you know that you should never, ever make
an idle threat. As soon as the little one knows you’re flexible and won't really enforce the threats you make,
she’ll start pushing the limits to see when (if ever) you’ll actually carry out
your threat. Yes, I’m going to say it: Customers are like toddlers.
Threats
like, “I’m going to sue you with the biggest lawsuit you’ve ever seen if you
don’t send me my $500 by Friday,” or, “I’m cutting you off Friday and you’ll
never purchase from us again, unless I receive $500 . . .” are more often made
by a hotheaded credit executive than by a calm collections professional.
What
can happen if you make a hollow threat?
* If the debtor doesn’t believe you, or you
don’t in fact do what you threatened, expect further abuses of your credit
policies by your slow-paying customer. You’ll have thrown away your
credibility.
* Threats made in the heat of the moment can
alienate good customers and cause them to take their business elsewhere.
Either
way, cash flow suffers.
10 comments:
Amazing! This is really incredible. The information on collection techniques is very accurate, useful and very well explained. Thanks a lot for sharing it. To know more about debt collection visit: Debt collection agency
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