Download PDF version (49k). The full text of this article is available as a PDF document.
Conflicts often arise in business when two parties have conflicting goals. A sales manager wants to meet his quota by selling to as many high-volume accounts as possible, and a credit manager wants to make sure these accounts are able to be collected on. There is a way to increase cash flow while simultaneously increasing total sales: by following this four-point plan that can be summed up with one word: R-E-A-D. R is for Respect. Respect is necessary both between sales and credit managers and between sales personnel and customers. In both relationships, neither party would be able to function without the other, and to properly relate to one another, respect is necessary. E is for Education. To be educated in the workings of a given role makes it easier for one to respect that role. This holds true between both sales and credit managers, and company and customer. A is for Attitude. A positive attitude facilitates both respect and resolution of problems. D is for Deadlines. Customers need firm payment deadlines to take your collections seriously, and cash flow managers need deadlines by which to collect. Deadlines keep everyone on track.