Making Successful Collection Calls

Collecting bills is just one of the necessary evils that comes with being a small business owner--but sometimes you have to get your hands dirty in order to protect your bottom line. If you're nervous about confronting your customers, this Wall Street Journal article offers the advice you need to make a successful collection call, including:

Identify yourself. Specify who you are and from where you're calling to eliminate any confusion from the get-go.

Ask for the payment in full. The best way to get the full payment is to ask for it at the beginning of the conversation. You might have to negotiate later on, but this will ensure that you're putting the highest amount possible back into the company checkbook.

Identify the problem. If your customer is having financial problems, identify them right away and work out a plan to help them pay off their bill in a reasonable amount of time.