www.getpaidfortheworkthatyoudo.com © Jan Reeves About the Author Jan Reeves Knows Collections! Jan has been responsible for collecting payments of invoices for over 45 years; in every job since she left school! During her career, Jan has worked in companies large and small, and collected payments from all types businesses, both commercial and noncommercial. Over the years she has trained and managed successful collection teams in several different countries, while continually developing highly successful and award winning collections strategies. Jan’s successes ultimately lead her to create a recruitment company, uniquely specialising entirely in credit control and collections staff. The recruitment company grew to 3 offices, 25 staff and a turnover of $12m pa. The recruitment business was always 100% self-funded. By following Jan’s ultimate collections system, her part-time collections officer ensured that 80% of invoices were paid by the due date. Jan now spends each year enjoying both the French and Australian summers and sharing her experience with small business owners, so that you too can get paid for the work you do! www.twitter.com/janreeves01 www.au.linkedin.com/in/janreeves/en http://bit.ly/1Bsb4oW www.getpaidfortheworkthatyoudo.com © Jan Reeves So… you want to get paid? When you had that brilliant idea for a new business, there were probably a multitude of considerations: Will your idea work? How will you market it? Who is your target customer? What strategy should you follow? How do you get the funding you need? Very seldom do we factor collections into the equation. Perhaps not until we are in the thick of it and someone hasn’t paid their invoice… ….and you deserve and need the money! This is where things may get sticky. This is when you realise that perhaps you don’t like calling people for money. Or that you feel guilty, as if you shouldn’t be asking. Does it make you feel frustrated or anxious? Are you stuck on what to say? What makes it worse is that it may seem like certain customers are trying to avoid your calls. What do you do now? Is it affecting your cash flow? Do you have to juggle funds? Is this impacting your ability to move your business forward? And the risk is, that as your invoices get older and older, sometimes you might not get paid at all! If this sounds familiar, I am here to help! I have collated 20 of my very best Do’s and Don’ts of modern collections that will help you be more successful in collections so that you can focus on the real work of your business. I hope you find them useful! Jan www.getpaidfortheworkthatyoudo.com © Jan Reeves 20 Modern Secrets of Successful Collections Ask “Is John Smith there today please” if you think DO DON’T someone is avoiding you, so you know if he’s actually in the office Say, “Can I speak to John Smith”. It’s too easy for someone to say “No, he’s not here”! Be genuinely interested in the customer and their DO business. If you are, they’ll be interested in your business too. Better still get them to like you. If they like you they’ll pay you! Be disinterested and half-hearted. People can tell! DON’T That definitely won’t put your payment at the front of the queue! www.getpaidfortheworkthatyoudo.com © Jan Reeves DO DON’T DO DON’T Use the telephone. You are building a strong business relationship. It’s not really possible by email. Email unless you are confirming or clarifying an agreement. Be really clear and precise when talking to customers. Have all the information you need to hand. Worry. It’s OK not to know the answer to everything. Just politely say “I’m not 100% sure of that. I’ll find out for you right away and call you back”. DO DON’T Keep calm. Everything is resolvable. There is an answer to everything. Get upset, angry, sarcastic or irritated. It won’t help. Your blood pressure could rise and you might put the customer or a colleague ’offside’. www.getpaidfortheworkthatyoudo.com © Jan Reeves DO DON’T Resolve issues instantly customer on the ‘phone. – while you have the Just ask them to “please wait“. While you find the answer for them. Pass issues to someone else to resolve. All the time there’s a query Keep control. outstanding your customer probably won’t pay. Remember that the customer has already had the DO goods or service, and provided there are no queries or problems, they owe you the money. It’s called ‘The Balance of Business’. BUT… DON’T Forget to ask if everything is fine. Is the customer happy? Do they have everything they ordered? Don’t launch in asking for payment until you have verified all is well. Set your new customers up for success from the word DO GO! Make sure that you have all the correct delivery AND invoicing details for their order. (If you aren’t sure call now to ask). DON’T Leave things to chance. www.getpaidfortheworkthatyoudo.com © Jan Reeves DO DON’T Build relationships with your Treat them as ‘The Enemy’ DON’T DON’T business customers. DO DO strong Your research and send out only ‘Killer Invoices’. Clear, easy to read, precise and correct! Take pot luck and hope they go to the right person in the right place. Look like an absolute STAR to your customer! Take action and resolve issues instantly. Drag your feet thinking that someone else will sort it out Make a call before the invoice due date to make sure DO the customer is happy. Are they missing anything at all? Leave it until the invoice is overdue to find out there’s DON’T a problem that needs fixing before the invoice can be paid. www.getpaidfortheworkthatyoudo.com © Jan Reeves DO DON’T Use ‘open’ questions to find out exactly what you want to know. Lose control of the situation by asking the wrong questions ZIP IT! Listen carefully and give your customer the DO DON’T DO DON’T opportunity to fill in the ‘uncomfortable’ space and give you the answer you’re looking for! Be tempted to jump in and say something to fill in the ‘uncomfortable’ space yourself! Provide your customer with ‘Award Winning’ service so they get to like you and pay you first. Be lukewarm. No-one enjoys interacting someone who isn’t engaged. www.getpaidfortheworkthatyoudo.com © Jan Reeves with DO DON’T “Break the Ice” when speaking to you customer to make them feel at ease and warm towards you. If they like you they’ll pay you! Just launch into questions about your shipment or service and invoices. It’s not about you. They are your customer, it’s about them! DO DON’T Take fast, detailed but short notes of every conversation or agreement with your customer – Knowledge is Power! Forget to read back through notes and familiarise yourself with the customer’s current situation, before you pick up a call from them, or you call them Remember to make your notes clear so that if you DO DON’T aren’t there someone else knows the customer’s situation and can provide a good service. Leave a huge ‘void’ so that if the customer calls and you aren’t there, no-one else can help them. www.getpaidfortheworkthatyoudo.com © Jan Reeves DO Remember life is a balance. Collections is part of business and life so what you put in, you will get back (be nice, they’ll be nice back). Think that collection of invoices is any way isolated DON’T from the rest of the business. It’s the last link in the chain of a business transaction. Nothing has really been sold until it’s paid for (it’s a loss until it’s paid for). DO DON’T Make a point of finding out who the ’decision maker’ is and talking to them. Discuss and make agreements with people who have to verify things with someone else. Go straight to the ’decision maker’. It saves time and energy. DO DON’T Take action if you can sense or feel something is wrong and this could be a ‘Red Flag’. Stick your head in the sand and hope. Hope is not a strategy! See what I did there… you got one tip free www.getpaidfortheworkthatyoudo.com © Jan Reeves Next Step… The Get Paid eCourse! If getting invoices paid is costing you time and money, the tips in this eBook will help you get started. If however, you are ready to collect payments like a pro, the Get Paid eCourse will show you how to collect 80% of your payments before the due date. In this power packed eCourse Jan shares expert tips, professional strategies and call scripts that will transform your small business collections process. The Get Paid eCourse is made up of 5 videos and over 20 hot resources that will get your customers paying and improve your cash flow… guaranteed! For more information and purchases visit www.getpaidfortheworkthatyoudo.com www.getpaidfortheworkthatyoudo.com © Jan Reeves
© Copyright 2024