The word on which we have to get going is “FOCUS”

Follow-up and portfolio analysis are the two keywords for success in collection.

The three steps which go clearly in for the success of collections are:

       Understanding of the Portfolio.

       Analyzing the trend.

       Get the facts about how to go about in your portfolio

       Plan Accordingly

       Divide your targets into MILESTONES.

       See that the Milestones are achieved.

       TARGETS would be achieved automatically.

Settings of milestones are important for the following reasons:

o        They ensure that you are at the right track.

o        They ensure the right pace.

o        If in case we are wrong in the track/pace we can correct the same at the first milestone itself.

o        Strategies could be changed/mended the first time they are wrong and fire-fighting is easy at the beginning stage rather than at the end stage, where things go beyond our control as we are not left with enough time.

o        Shows consistency in the performance as you don’t tend to be looked as a one-day/one-week wonder.

o        It gives you to time/opportunity to understand your strengths and weakness which in turn helps to strengthens the strength and work on the areas that we are weak at.

o        Gives you opportunity to check periodically of the time or the phase we tend to become slow at.

Now let’s decide the targets and see that we are at the right nos. Let our competition be with ourselves than with others.

Keep your mind open to find new ways of doing things faster and with the same efficiency. Even if you lose in the event, you will know one another way of doing the thing.