Profit, Loss, Bad Debt and Sales Training to Promote Success Hangout with Mike Lions
Channel: Lions and Associates Sales Team Training & Success Building Channel
Date: 2014-06-18

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http://www.commercial-collections.com Business today can be a very delicate environment, to stay strong and profitable a company must possess an effective credit and collection policy. One must habitually monitor accounts to maintain positive cash flow and a low DSO. They must also have an effective 3rd party firm in place to handle collection efforts within a reasonable time frame.
An accountant may look at 3rd party placement of bad debt as "How much is it going to cost us to collect our money". He / She may realize that the debt represents uncollected revenue from sales and might view the loss at face value. Some may even continue to wait on empty promises to avoid incurring the additional cost of 3rd party intervention. Even if they are within the company's policy for bad debt allowance sales must be made to offset the bad debt. Do not fall victim to the assumption that $1,000 in bad debt is offset by $1,000 in new sales. This type of thinking has financially crippled many companies forcing them to close their doors unable to satisfy their own debts including employee wages.
We encourage business professionals to take an in-depth look at what it truly costs to carry bad debt on the books. The dominant element in this equation is net profit. Most companies "true" net profit actually falls between 2% and 6% which means the additional sales figures required to offset bad debts can be astronomical.
 This forum goes over the effects bad debt has on profit and loss and future sales and covers various objections.
Lions and Associates is a National Commercial Debt Collection Agency Offering Full Service Accounts Receivable Management, Recovery Services & Financial Investigations
We compete with the best in the industry by networking only the best debt collection analysts, financial investigators, and attorneys available to us. Updates and reports via 24/7 online access will get you what you need, when you need it. Get your money fast with our remit upon clearance payment policy. Collect more with a very high yield of collected accounts. Our cases are handled with diligence and experience from inception to conclusion to ensure quality results because we understand the importance of handling your accounts in a professional manner. The excellent performance and reputation of Lions and Associates, LLC are the major reasons why we are the absolute best choice in commercial account recovery. Let us help to get your A/R in order and keep it that way to minimize your profit loss on problem accounts and maintain a healthy DSO.
We offer competitive rates with a superior BCR (benefit-cost ratio) for virtually any market. Our collectors' focus is to collect the applicable fees & interest in addition to the principal amount due without litigation by using key techniques specific to your industry and utilizing our broad resources.