Collection Secrets to Boost your Cash Flow

When it comes to businesses bringing in money, there are a great many ways to go about it and some are never really given the appropriate attention and thus become, lost money.  What if, someone had a way to spell out the best way to bring in the monies that have been owed to a company in a way that is enlightened and promotes growth in industry and for the economy? Well, Terry Taylor has done that. In his book “Secrets of Cash Recovery”  Terry outlines identifiable criteria that companies can use to ensure their cash flow.  He deals with all of the issues from systems to set up to how to deal with feelings around objection. A great buy on, “Secrets of Cash Recovery”  is available as an easily downloadable resource.

“Secrets of Cash Recovery” helps businesses to create systems in their practice that help ensure customers know what to expect and how payment is to be rendered. In Components of Any Credit Policy, there are points that help a business with “sure fire credit checks” and when to turn over any collection needs to an outside firm. “If you make a sale but never get paid for it, did you really sell anything?”  Getting paid is the cornerstone of a business. One cannot afford to improve, expand or in many cases, even deliver on products or services without proper cash flow. Terry Taylor spends time teaching businesses to create and implement simple systems to ensure payment. Systems such as electronic payment, effectively eliminate the need to bill and subsequently, balances owed. In addition to the electronic payment, a very basic understanding of communication with your customer and upfront information about policies on payment help to keep businesses in steady flow of money.

In the case of debts incurred, the concept of something is better than nothing comes into play and Terry is careful to show that if outstanding balances are incurred, “in-house collections” is a great way to save a little money while also collecting on a little money. Often utilizing your most obvious resource, your sales force, to assist in debt collection can offset the cost of a discounted balance settlement. By arming your sales force or resource team with adequate tools like Creating Email Templates, scripts to guide agents in discussing debt and rules on how and why to escalate a situation due to circumstances. When these efforts are executed successfully, the entire amount that is collected, goes into the company til.

Mr. Taylor shares very specific tips on how to recognize when a customer is in need of a creative solution, or is hiding assets. He also offers clues to how to talk to a customer who may have some emotional ties to a feeling about the debt or the collection efforts. Often, the customer is unaware of a viable resolution of debt solution. Taylor says that a good collection agent is listening not only for what is said but what isn’t said.  This way some more unusual but effective means can be employed to help all parties. He relates a story about Broccoli, you won’t want to miss.

When all else fails, Taylor does explain why and when to search for an outside service for help.  That is what Dynamic Legal Recovery does. They are the outside help. And with Terry Taylor’s 58 years of experience and strong guidance, his team is one of the most successful collection firms serving the world of business today. Utilizing their strategies and knowledge is a no brainier.

As a special offer for Dynamic Legal Recovery’s 5th Anniversary, “Secrets of Cash Recovery”  is being offered to companies for $11.97 per download. When companies purchase the download, they receive Terry’s follow up webinar “Collection Secrets.” In addition to the webinar, Dynamic Legal Resources sends a delicious lunch to the company’s staff, to enjoy while they experience the webinar.

Click here to purchase “Secrets of Cash Recovery”

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