How to Collect Debts (and Still Keep Your Customers)

By David Sher

Bad debt drives thousands of profitable businesses out of business every year. Forunately, these kinds of grim cashflow problems can be avoided simply by getting customers to pay their bills. This... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0814404871
• ISBN13: 9780814404874
• Release Date: May 1999
• Publisher: AMACOM/American Management Association
• Length: 173 Pages
• Weight: 0.99 lbs.
• Dimensions: 0.8" x 6.2" x 9.3"

Customer Reviews

Eminently Practical and Highly Principled

If you effectively implement only one or two of the Shers' suggestions, you will more than cover the cost of this book. But that's not the best way to use it. Rather, first, re-examine all of your thoughts and feelings about accounts receivable (AR). (Do you even know precisely who owes you how much and for how long?) Then rigorously evaluate your current policies and procedures (if you have any) and make whatever modifications are necessary, guided and informed by what the Shers suggest. Finally, consistently follow those policies and procedures while being willing to consider a specific AR problem within its context. I wholeheartedly agree with the Shers that (a) AR may well be the single most important component of customer relationships, (b) AR problems offer unique opportunities to strengthen relationships with those customers involved, and (c) most AR problems are avoidable, more often than not the result of a misunderstanding rather than a customer's intention to avoid any payment whatsoever.The Shers organize their excellent material within three Sections (Attitude, Speed, and Knowledge), following an Introduction which -- all by itself -- is worth much more than the cost of the book. They then share "A Few Final Words" about avoiding bad debts, consumer collections (why some don't pay) and what they call "The Kitchen Basket Syndrome," commercial collections, and finally, "Lessons in Real Life." Almost all companies have AR problems because some of their customers have cash flow problems. What we have here is a step-by-step, cohesive and comprehensive system to minimize, expedite, and resolve problems with accounts receivable. Assume good will on the part of most customers and make every effort to "work with them." However, also know that at least a few are disreputable and be prepared to outsource some ARs to an attorney or collection agency. (The Shers explain the most effective way to do that.) For me, one of this book's greatest values is its emphasis on seeing AR within any organization's entire operations. In certain respects, this is a "How to Do It" book but it is more, much more. The Shers strike me as being psychologists rather than bill collectors, as being two decent people who believe that most other people are also decent, and who sincerely want to help their readers to obtain what is due them without compromising the integrity of those who are in their debt. The Shers' advice is eminently practical; it is also highly principled.

Easy Read that was fun and informative

These guys have a wonderful knowledge of the collection world. I read this book fairly fast and gained knowledge that I had never thought about. If you want help on your companys receivables, then this is a must read.

Fun and Informative

I own a communications business in the South and I have heard lots about the Sher brothers. I read this book and just loved it. I know that everyone in my collections department will be reading this book.

Business Saver

This book has saved my business. I made all my employees read this book and now my company is a money making machine.

Informative and entertaining HOW-TO collect book

This book was very well written with many informative stories and examples of how to collect in a fun and worthwhile way. The Sher brother's backround shows that their knowledge is above and beyond what is needed to write this book.