Opinions expressed by BIZ Experiences contributors are their own.
In the ongoing battle to get paid on time, two of your mosteffective weapons are well-designed invoices and billingstatements. Start by understanding the document's purpose,advises Frank Uhlman, a collections expert at the Commercial LawLeague of America.
"The invoice describes a particular purchase," Uhlmansays. "Statements, or bills, are usually sent monthly and listthe invoice numbers and dollar amounts of purchases and paymentsmade during the billing period."
Clarity is a critical element of both documents. "Theinvoice should contain enough information to deflect anypossibility of a delayed payment because of confusion as to whatthe bill is for," Uhlman says.
In addition to your own internal coding (such as the customeraccount number, salesperson and so on), the invoice should includea complete, clear description of what was purchased, avoidingunclear abbreviations. Specify quantities purchased, unit pricesand totals; show the customer's purchase order or otherreference information to identify the transaction; and clearlyindicate the terms so the customer knows when payment is due andwhether a discount for early payment is offered.
The statement should summarize the transactions made during thebilling period. Keep related information together, and use graphicsto call attention to important information. Include a duplicatecopy or perforated piece the customer can return to help you applypayment properly.
Uhlman says invoices and statements should be designed from thebuyer's viewpoint, not the seller's. You may want to selecta group of customers to review your documents, and use that inputas a basis for improvement.
Fax Faux Pas
If your faxes are making foes, not friends, perhaps it'sbecause you're oblivious to the finer points of fax etiquette.Curtis Michelson, whose Orlando, Florida, company, AccessPublishing Inc., produces a daily fax news magazine, offers thesetips for making sure your faxed messages are positivelyreceived:
Don't fax unsolicited marketing material. "Remember,the receiver is paying for the fax paper and toner," Michelsonsays.
Keep elaborate designs to a minimum. Complicated logos, fancyborders and custom letterheads on cover sheets and other documentsslow your transmissions, tying up lines and inflating phone bills."If you want to use large, bold type, try an outline fontinstead [of a dark font]-the visual impact is the same, but thetransmission is much quicker," says Michelson.
Call before sending long documents. "It's a matter ofcourtesy to alert someone that you're going to be tying uptheir machine," Michelson says.
Get permission for late-night faxes. If the recipient operatesfrom a home-based office, a middle-of-the-night call may not bewelcome.
Character Study
Successful BIZ Experiencess have a lot in common. "They have ahigh need for achievement," says Susan E. Murphy, interimdirector of the Kravis Leadership Institute at Claremont McKennaCollege in Claremont, California. "They have a high tolerancefor ambiguity and are comfortable adding their own structure toambiguous situations. They usually have a single vision they do notswerve from, and they believe they control their owndestinies."
These characteristics can be developed into strong leadershipskills. Murphy advises putting yourself in difficult situationsthat challenge and stretch your abilities. If you fail? Learn fromthe experience and keep going.
