Eliminate Collections – Time and time again, I hear of businesses wanting to solve collection issues. I have a difficult time with this. I feel for what the business owner is going through, and it brings me back to those traumatic days of dreading to make phone calls to collect on a job past due, or worse, sending my customer to a collection agency. The problem is not the collections. Collections can be a tool to turn a customer into a long-term devoted client who always pays. Most businesses try to mentally avoid collections as if it will never happen to them, instead of seeing it for what incredible potential it could be…an absolutely wonderful, psychologically uplifting experience for whoever is making the collection call (if a call is even needed) and the profoundly simple event for the customer.
All of this headache is not necessary. It is a fact of not having implemented quick, simple solutions, organized into a set system to prevent collections. Having this system in place and prepared in advance will eliminate collections by preventing this problem from ever happening. This is the solution. It only takes a few keystrokes to eliminate collections from ever rearing their ugly head.
Business collections are like food poisoning. You didn’t know if there was, didn’t care if there was, or didn’t want to have…an expiration date. “Why use an expiration date? I won’t get food poisoning.” If that’s the case, stick with McDonald’s fries or Twinkies. (They don’t need a label.)
If you want the expiration date and use the expiration date, then no more chance of worshiping the porcelain god. A good system for eliminating collections will create collection prevention. Collection prevention is your expiration date label and we have the machine that makes the labels.
So, what am I getting at? How do you eliminate collections from happening? Let’s use this case study as an example. First what happened, and second what should have happened.
Small Collection Nightmare
This actual question was asked in Richmond, MO on Jan 7, 2022, “What can I do if a customer hasn’t paid the remaining amount of their repair bill?”
“As an LLC, we repaired a driver’s rig—a semi. And the customer was the owner op on the fleet we service for. He was later fired and the truck was taken from him. The driver still owes about $500 on the repair bill. This has been going on for several months now. He is sent a copy of the invoice each month and won’t pay, and has pity party stories about paying. He has moved out of state now. What can we do to get this driver to pay for his repairs?”
This semi-truck repair and the man being fired is a perfect example of the type of scenario that sends you straight to the restroom, vomiting.
Simple Solution–you should have had an expiration label machine. The label machine is MyWojeMoney.com. All this dread and frustration is entirely avoidable with Woje. What do I mean? Let’s rewind this little movie and see it from a new business perspective—one that uses Woje.
First, he came in for repairs. A price was set, a contract was signed, and a deposit was paid.
Second, the customer came in, picked up his rig, and we billed him for the rest. He had 14 days to pay the balance. The payment wasn’t received within fourteen days. We then pulled up our My Woje Money dashboard at MyWojeMoney.com and entered all the contract numbers, amounts, and dates within our contract terms. Then we submit the $500 for auto withdrawal from his bank account according to the contract he signed. One of the company’s contract terms states it could pull payment in fourteen days if not received. Woje was the tool to organize it and pull it. The bank transferred the money to the company’s bank account.
See how simple? You prepare in advance. The prevention tools are the key. Next question that I know you are rolling around in your head… “What if the $500 bounces?”
It is so easy to resolve. It is about as easy as taking time to view that simple expiration date label to keep you from regurgitation. That is for another blog some other time, or you can learn it within Woje. Go to MyWojeMoney.com for your free Dashboard and training on how easy it is.
I’ll state this though, if a bounced payment were to happen, the business would have made more money. You can’t solve it after you are blowing chunks, but it is the easiest thing when you have the expiration date label, and it’s called WojeMoney.
The best thing you can do for your business is to see what Woje Money is doing for companies like you. It was made by local businesses frustrated with similar scenarios and designed for local businesses to prevent this kind of event. Woje is how you keep your profits, whether it is to eliminate collections, remove merchant fees, or capture credit card interest.
If you wish to learn about Woje’s Collection Prevention system and/or give yourself a break from the onslaught of merchant providers and learn how to reduce merchant credit card fees without charging customers, then become the merchant provider, the credit card, and the bank in a matter of minutes. Go to www.mywojemoney.com, sign up for your free dashboard, get familiar and fully trained through the simple ABC video training, and within a short stint, you can capture all this money from now on. It is fast and easy.
We will further educate you on our free up-and-coming webinars if you’re the nervous type. You can sign up for one of them here.
Or, if you want to view a Woje dashboard demo before getting your feet wet with a free dashboard, you can click here and set up an appointment with one of our business consultants and ask them more questions.
With any of the three ways, Woje’s goal is your confidence in capturing this money back. You made it. You should keep as much of it as possible.