I first became acquainted with award winning author and columnist Michelle Dunn several years ago while searching the web for information on the ins and outs of starting a collection agency, and her book, Starting a Collection Agency, was one of the resources that I added to my library. Turns out that years later Michelle would become an member of the inaugural editorial advisory board for collector mentor Magazine. When asked to review her latest book, The Guide to Getting Paid, I was eager to take a peek at what would soon become the credit and collection industry’s newest resource for teaching others how to get paid.

Briefly describe what your book is about:
The Guide to Getting Paid: Weed out bad paying customers, collect on past due balances, and avoid bad debt teaches you how to manage your business credit and accounts payable and receivable in an efficient and effective way. With sample letters and forms, you’ll get detailed advice on how to create a simple credit policy that is tough but flexible, has specific action guidelines, and gets enforced consistently.
What led you to write this book?
When the economy took a nosedive in recent years, businesses in every industry suddenly had to make more collection calls than ever before. I found that many of those businesses didn’t have an effective credit policy in place, and they found themselves scrambling. Many fell behind on their own bills, and bad debt rippled through the economy.
What many business owners fail to realize is that credit management IS your business. A good credit policy will help you make more sales, increase cash flow, and make a profit.
A simple and effective credit policy will save you time, money, and headaches. I wrote this book to help business owners do just that, and I found a great publisher in Wiley who also thought this was an important book for business owners during these tough times.
How will this book help business owners?
The Guide to Getting Paid will help business owners to avoid the common mistakes businesses make, such as not checking credit, not getting any signed paperwork, or being unfamiliar with laws. The Guide to Getting Paid delivers step-by-step guidance on how to:
- Check and issue credit, determine credit risk, and limit that risk
- Outline policies and procedures that will help provide your customers with options when they cannot pay in full
- Use email and social media in collections
- Legally collect money from slow or non-paying customers and enlist third-party collection services
- Deal with customers who make deductions on their payments
- Improve your phone delivery, and conduct compassionate, rather than angry and aggressive, debt collection calls
All things that are very important to a businesses bottom line, not just in this economy but in any economy.
What do you most enjoy about what you do?
I like being my own boss and publishing a new book that can help people be successful, I also enjoy teaching the classes I teach based on my books.
Can you share a business tip with our readers?
Educate yourself and never stop. Network effectively, and help others. It will come back to you and you will be successful.
Is there anything you would like to add?
Reading is learning. You can never know to much but you can know to little. Never stop learning and you will continue to grow professionally and personally. All resulting in good things.
How would someone reach you?
Michelle Dunn
P.O. Box 40
Plymouth, NH 03264
michelle@michelledunn.com
www.MichelleDunn.com
www.Credit-and-Collections.com