Last week I was playing the part of a past-due client in a role play with one of our students. He was trying to impress upon me the negative results of further payment delay.
“Your account will be a charge off,” he said.
“What is that,” I asked.
He hemmed and hawed, eventually said it would be a bank charge off.
“What does that mean”, I asked again.
In time, he got around to the effect it would have on my credit, something of interest to me as the debtor and understood.
It is easy to get in the habit of using phrases and acronyms that we understand and use in our business. It is difficult to catch yourself and make the necessary adjustments.
Start a pool with your team and catch each other using a “banned” word or phrase. If you’re caught, a quarter or its equivalent into the pool. If you work on your own, catch yourself in ‘live’ or recorded calls and make the same donation to a local charity.
This month’s pithy quote:
“It is difficult to get someone to understand your position when
their bottom line may depend on their NOT understanding. Keep it
simple.” …Tim Paulsen