Today’s article tells a story about Mr. Noa and his customers. How does Mr. Noa loses his customers as a result of debt recovery? Let’s scrutinize his approach and end results.
One hot afternoon Mr. Noa was busy serving his customers. In the process someone greeted him from outside. Upon responding, he came to a shocking realization that a debtor who owed him for about six (6) weeks was passing by. Nevertheless, he greeted him first. Mr. Noa with little patience pushed other paying customers to tack the debtor for his money. He held the debtor by the scruff of his neck and gave him a slap and shouted on top of his voice demanding his money while making derogatory remarks. This caused a fight to erupt between Mr. Noa and his debtor till they were finally separated.
Some customers, who could not wait left the store and purchased from different stores and never returned to purchase from Mr. Noa again. Those who waited also left with the perception that should they default in their payment; the same thing will happen to them.
Mr. Noa’s business started going down because he began to lose market share due to his approach to debt recovery. His business started to dwindle at a rate of 10% per quarter. Potential customers were driven away by exaggerated stories by competitors. Mr. Noa is now on a sinking ship and do not know what to do. In this anecdote we can confidently say yes, Mr. Noa owed money and he had the right to recover what was lawfully his. If so, why then should he lose his customers at the rate at which he did?
Before we explain, let’s do this together by sharing thoughts in our comment box.
Call us if you don’t want to be on a sinking ship like Mr. Noa, 0577674763, 0577669030, 0577669039, (+233)-302 670 991 / 302 674 697 or via our social media handles.
If you find it hard to pay your debts or recover your debt, you may need to get help from Capital Factors and Debt Management Services.
WRITTEN BY: Ms. Alberta Arhin
Capital Factors and Debt Management Services.