Magazine article Business Credit

A Dirty Job?

Magazine article Business Credit

A Dirty Job?

Article excerpt

Collecting receivables is an integral part of almost any business today. Receivables gone bad can, at best, result in lost revenue and, at worst, result in bankruptcy. Businesses write off an incredible amount of receivables every year because they do not have a practical accounts receivable system in place. In many companies, the job of collecting is usually assigned to someone from some other department who knows nothing about collecting. Suddenly they are given an additional full-time assignment which they are told to spend a few hours on each day.

By society's standards, collections is usually perceived in a negative light - a "dirty" job, but somebody has to do it. Tell people you are in collections and they will usually look at you as though they want to put their arm around you and say "Oh, I'm so sorry". What they do not realize is that collections can actually be fun, exciting and certainly challenging.

I believe this so whole-heartedly that my days are now spent training people in corporations throughout the country to collect their receivables and help them to see their job in a positive light. It is important that they know how to make collections fun, exciting, challenging and rewarding. There is nothing worse than having to do a job day in and day out which offers no challenges or rewards. If that is truly how you feel, chances are you will not be very successful at collecting money for your company. Even on your worst days, there are always positives and sometimes you just need someone to point them out. We do an exercise in my seminars where students are asked to write down three positive things about their job. If they cannot think of three, I request that they come up with at least one positive. During a recent seminar, I noticed one young woman really struggling with this exercise. After much deliberation, she finally wrote down "LUNCH". The class was quite amused when l pointed this out, but I pointed it out because I thought this person did a wonderful job in coming up with. at least one positive. Even if you absolutely love your job, we all have days where numbers I and 2 on our positives list are "LUNCH" and "LEAVING". Obviously this person was not too thrilled about being in collections. She was hired for a completely different position and suddenly was handed the additional task of collecting money. Before she took my class she was not able to come up with even one positive about her job. When she left my class, she was filled with positives. This is an important part of my seminar because while collections can be fun, exciting, and challenging, there is no doubt that it is also quite difficult and requires hard work. We are challenged daily to take negative situations (collecting receivables) and turn them into positive situations (actually collecting your receivables!). It is very important to continually look at the positives in your job (and in your life). This is especially important if you have just had a particularly stressful collection call. It is my belief that negative energy works just like electricity. You can't see electricity, but you certainly cannot deny that it exists. Just like electricity, the brain gives off both negative and positive energy. Unfortunately, negative energy is much more powerful than positive energy. Case in points there aren't too many people who have been devastated from being complimented too much! If someone's negative energy is transferred to you, you will be transferring it to the next person you call, unless you get rid of it beforehand. …

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