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What if the cash your business needs isn’t missing—it’s simply sitting in your customers’ accounts?
In this episode of CONTROL OR BE CONTROLLED, Bill Ferrier, founder of Ready Set Collect and a veteran of nearly 40 years in the credit and collections industry, joins us to reveal how companies can take greater control of their cash flow by getting their own money paid on time.
For many businesses, past-due invoices aren’t just an accounting problem. They can affect working capital, profitability, debt obligations, growth, and the ability to make the next move. Bill believes companies should stop viewing collection training as an expense and start seeing it as an investment in their financial health.
His approach isn’t about aggressively chasing customers or damaging relationships. It’s about teaching in-house collection teams how to communicate professionally, overcome payment objections, identify danger signals, ask better questions, and turn overdue receivables into cash flow—while preserving the customer relationship.
In this conversation, we explore:
- Why good customers sometimes become slow-paying customers
- How overdue receivables can quietly restrict a company’s growth
- What DSO really means and why it matters to your business
- How to overcome common payment objections and stall tactics
- The difference between collecting money and maintaining customer relationships
- Warning signs that an account may become seriously delinquent
- How better collection conversations can accelerate payment
- Why high-gain questions can reveal what’s actually preventing payment
- How companies can reduce their dependence on third-party collections
- Whether investing in collection training can actually deliver a measurable return
Bill’s philosophy is simple: there may already be significant working capital trapped inside your accounts receivable—the question is whether your team has the skills to unlock it.
Because when your money is tied up, your business can be forced to wait.
And in business, whoever controls the cash flow often controls the options.
Connect with Bill Ferrier / Ready Set Collect: 🌐 http://readysetcollect.ca/ 💼 https://www.linkedin.com/in/bill-ferrier-7556683b 📘 https://www.facebook.com/share/185dReWjnG/
