Many businesses today are trying to make decisions that will allow them to be efficient and profitable. You say, “That’s nothing new.” But in today’s new economic environment, which seems to change very quickly, the decisions have to be based on non-scientific projections. Some businesses are in the “let’s wait and see” mode, while others are in the “Oh my gosh!” mode.
In reality we really need to step back and take a deep breath. This environment will separate the strong business owners and managers from the not so strong. The beginning of being successful at anything we attempt is to believe in what we are doing. Whether its auto repair, construction or bill collecting, we have to be creative, innovative and think outside the box. We may have to do some rearranging within our company’s to be more cost effective.
Some employees may find that they are taking on extra work that was not originally included in their job description, but overall if sales are down so will the regular tasks of that employee. Hence, giving them more time for added duties. If they say they “don’t have time” and make it difficult for you to make necessary changes to stay successful, then you have to make the decision to be surrounded by “naysayers” — or not.
If you own or manage a business, the last thing you need is more negativity! Especially, from those individuals who are paid to do their job.
For those individuals who have the “we can do it attitude,” give them more responsibilities such as calling the individuals or businesses who owe you money. If you do not have anyone who is comfortable making collection calls, or have made the attempt without success, place the accounts with a collection agency that will not charge you a dime unless they collect your money.
Now is not the time to stall on collecting your accounts receivables. Now is the time to stay on top of them and get your money in the door. If you are uncomfortable with the task of “bill collector” don’t just forget about them. If you do you will receive 100 percent of nothing! If you place them with a professional collection service you will receive something, and something has always been better than nothing.
(Paula Bartlett is the President of Saba & Associates)