I’ve been subscribed to your emails for years now, since I was in Montreal 23+ years ago and I thank you for the continued interesting collection technique emails. I share most of them with my team, here in Europe. 

Patsy McMahon

Credit Control Manager, Global Finance Shared Services Edinburgh

 If I knew then what I know now!  (Tip from November 19, 2024) 

I’m sure that just like me, you’ve said this to yourself on quite a few occasions. Some years back, I had been introduced to a training method that should have been more successful. It involved giving a collector working for me a tape recorder (like I said, quite a few years back) and having them tape three of their calls. We would sit down together afterwards and analyze the good and perhaps where some improvements could have been made.

It didn’t matter to me that an individual might feel one of their calls was less than stellar and delete it….I figured they were training themselves that way and I wasn’t out to ‘catch’ them, I could hear how they sounded by simply walking around the office.

There was one woman, a good collector who was adamant that she was not going to be taped, not be part of the program. Didn’t matter to her that she could tape over calls, she just wasn’t going to do it. I was stuck. I wasn’t going to let her go, except for her refusal to be taped, she was a great collector, but at the same time, I couldn’t let it go. I started making arrangements to have her transferred to a different department when she eventually relented and we carried on with the program.

Still, I don’t think the relationship was ever the same and I always wished I had handled it differently, certainly better.

What came to mind not too long ago, was that I could have sat down, made three calls on her behalf, taped them and then the two of us sat down to analyze. After all, it was the demonstration and knowledge of the best techniques that I wanted to ensure were known and used. Who was using them did not matter all that much.

Would it have worked? I don’t know. Hindsight 20/20 and all that, but it would have been a different approach, something worthwhile. Why learn from your own mistakes when you can learn from the mistakes of others, eh?

Speaking of learning, for all of you Tippers out there, I am letting you know first that we have a limited time offer of the first free module of our CAT program (Collection Certification and Training). A great way to find out if it may be for you or someone else. For more information about the modules and to link to the free one, please follow this link. 

 

Pithy Quote of the Month: 

“Tell me and I forget, teach me and I remember, involve me and I learn.”

– Xun-zi

 

 

tip from August, 2024

Lessons from the Serengeti 

In the National Park of The Serengeti in Africa, a wildebeest, gazelle or a buffalo, must outrun the fastest lion or cheetah to survive. On the other hand, to live, the predators need to be faster than the slowest of their prey. Mother Nature is a tough and unforgiving judge at the finishing line, no prize for ‘effort’ or second place. As they say in The Serengeti, when the sun comes up, be you predator or prey, be ready to run – fast.

You have your own jungle to survive (yes, I’m mixing metaphors), where your opposition may be a larger organization, perhaps they have a ‘bigger hammer’ they can wield in pressure to be paid, based on a unique product or service. On the other hand, they may be more nimble, able to react quicker to a situation like Covid.
Are you ready to run – fast, when the sun comes up on your Serengeti?
You sure? How about a few questions.

  1. When was the last time you revised and improved your email and notices?
  2. Are your customers taking seriously ‘your terms’ of payment?
  3. Have you listed the ten major reasons your customers give for non or delayed payment?
  4. Do you have the questions and statements for each of those ten?
  5. What are the top five reasons your customers ‘should’ pay you…and on time?
  6. When did you last read a book on collection or negotiation techniques? 

Okay? I’m sure you get the idea. On your mark, ready, set….go!

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Here are just a few of the titles from the last year:
  • “Play it again, Scam” – How you would ‘think’ you are inoculated if you’ve been taken advantage of once
  • “Breaking Up Is NOT Hard to Do!” Improve your email with more white space
  • “It Never Grows Old” – Negotiation and collection lessons from Peter Pan
  • “Best Toothbrush for Under $10” – Milennials are different and you need to alter your collection approach
  • “The Iceberg Cometh” – What we can learn in collection from the disaster of the Titanic
I wanted to express my sincere gratitude and appreciation for all the wisdom you dispel to those lucky enough to receive your emails.I look forward to being on the receiving end of those pithy little gems that help us navigate through the Credit/Collection world. I’m not sure how long i have been a subscriber, but glad that I tuned in.  Many a situation arises and one of your suggestions pops into my head.  I am seeing a doctor for this, though.

Keep sharing your vast knowledge and sense of humor.

Cathy Peterson

Chambers Wine Merchants

Testimonials

 
"I have operated in this field for more than 12 years thru many accreditation courses, workshops and sessions…I found it rare to see someone within your caliber in terms of professionalism and dedication."
Jean Chidiac,
Collection Manager,
Bank Audi
"As a Gold Advanced Toastmaster, I can't help myself - I am very picky about speakers – always conducting my own evaluation. Mr. Paulsen was fantastic. He was relaxed, exhibited great timing and demonstrated a wonderful way to get a message across to us. It was Impressive!
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Craig Burkhard,
Vice-President, Lending,
MacDill Federal Credit Union.
 
Learning about collections is sometimes as misunderstood as collecting itself. Tim Paulsen's approach leaves the learners motivated and confidant, two essential elements to making effective collections."
Gilles N. Therrien
Manager, Process Excellence Customer Relationship Support
Canada Post

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