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.

---

Poor Employee Performance: How to Deal

KEEP WRITTEN RECORDS: "Document !Document! Document!" Keep a record of... Read More

Can Your Corporate Policy Pass the Monkeys, Bananas, and Water-spray Experiment?

Five monkeys were placed in a cage. A banana was... Read More

Disaster Prevention Tips For Hiring A New Manager

It happens over and over in businesses every day.Within large... Read More

You Get the Behavior You Reward

On consulting assignments, here are some of the questions I... Read More

Survival of the Fittest: The Road to Human Extinction

I was watching a TV program some months ago about... Read More

Management Team Section of Business Plans

Writing an award winning business plan is a great skill,... Read More

The Power of the Contract in Performance Management

An essential step in managing the performance of salespeople is... Read More

5 Surefire Ways to Bring Your Business Objectives Full Circle with Technology

All small to mid-sized company owners want to know where... Read More

The High Cost of Employee Turnover Among Project Managers

Imagine for a moment this scenario from a frustrated Senior... Read More

Strategic Clarity for Communication Management

Over the past few weeks I've been developing plans for... Read More

Computer Consulting 101 Hiring Tips (Part 1 of 2)

Does your business need the services of a computer consulting... Read More

Lateral Thinking, Logical Thinking, Applied Creativity

Certain processes enhance creative output and others enhance innovative output.... Read More

Sweet Parting Of Ways

Why settle for bad feelings when your employee leaves the... Read More

Enable Continuous Improvement of IT Services through ITIL

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

Three Foundation Stones for Building Organizational Integrity

When the stock market crashed in 1929, there were a... Read More

The 5 Things Great Managers Sense about their People, Every Day

Using all of your senses, to help you test how... Read More

Turbo-Charge Your Rollout with ERM

Employees are the often-neglected stakeholders in the success or failure... Read More

Know Your Business! - 7 Key Questions You Must Ask

You need to know all that is going on around... Read More

Customer Focus - Just 5 SimpleThings You Need to Think About

You can boil down the difference between successful businesses and... Read More

Nonprofit Performance: Outcome Measurement Can Be A Good Thing

Does the idea of program evaluation make your stomach churn?... Read More

Manage or Lead ? Why the Difference Matters and What to Do About That Difference

Many books have been written about managing people, and an... Read More

The Top 10 Requirements for Your Business to Become and Remain Profitable

We live in a relentlessly competitive world. The daily pressure... Read More

Quality Hiring: Are You Doing It Right?

Quality hiring is more than running ads, screening, interviewing and... Read More

CRM ...The Emperors New Clothes

The story of the emperor's new clothes is a fairy... Read More

Using the Six-Sigma Methodology to Improve Wafer Fab Productivity

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

Five Days to More Effective Inventory Management

The litany of headaches related to the implementation and on-going... Read More

Why You Should Hold One More Meeting

If you are completely happy with where you and your... Read More

Is Your Employee Newsletter Management Propaganda?

It should not be. If it is an effective newsletter,... Read More

Setting Direction Within an Organization

FINDING DIRECTION: An organization can't succeed without direction. Direction means... Read More

Using Outlook to Count Responses

Here's a productivity tip that will save you a lot... Read More

Benefits of Virtual Assistance

A virtual assistant is an individual who provides business services... Read More

Better Manager Skills - How to Learn

When you first take over a department, expectations are usually... Read More

Attract and Retain Positively Great Employees - An Action Plan for Employee Training

Everyday a business owner, CEO, or manager somewhere is complaining... Read More