If you don't have a credit policy, everyone will want to buy from you. This can result in unpaid and past due invoices on your books.
A new book explains how you can avoid and prevent this from happening to you and your business. "Become the Squeaky Wheel", is a guide to create, set up or update your credit policy.
"There wasn't an easy to follow guide you could use to create, maintain or update your existing credit policy while maintaining customer relations, so I created one." Says Michelle Dunn, the author of the new book "Become the Squeaky Wheel". "It's proven very useful to business owners or entrepreneurs starting a business who have never dealt with credit issues before but that have or might have slow or non-paying customers."
According to Dunn, creditors and business owners can tell if you are professional or on top of your game just by your policies. If you extend credit without getting a credit application filled out, customers know you aren't serious and this could lead to payment issues down the road.
If you have a credit policy and have every new customer fill out a credit application, some will run away as fast as they can, and others will happily fill them out. One goal accomplished. That is where "Become the Squeaky Wheel" comes in; you can copy the policy examples in Dunn's book or create your own. You can use parts or all of the suggestions in this book to create steady cash flow by streamlining your accounts receivable and credit departments.
About the Author
Michelle Dunn has over 17 years experience in credit and debt collection. She is the founder of Never Dunn Publishing, LLC, is a writer, consultant and the Editorial Advisor for Eli Financial Debt Collection Compliance Alert Newsletter. Michelle started M.A.D. Collection Agency and ran is successfully for 7 years. She owns and runs Credit & Collections.com a free online community for credit and business professionals.
She has written 5 books