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Guest Post: "A Primer on Collecting Late Payments"

From a friend who is an established consultant, who has both worked for major consultancies and run his own shop. He gives us these useful pointers today -

"A Primer on Collecting Late Payments"

Anyone who has ever done business has had occasional difficulties collecting payments from customers. Experience shows that putting some attention (in advance) on a couple of key items can help resolve the lion's share of these issues.

First general rule: Your written communication style and professionalism can go a long way toward inducing unwilling customers to pay up more quickly than otherwise.

Let me clarify these two terms:

3 Steps to Write a Power-packed Introduction

On Econoception

We all want the halo effect to work in our favour. According to Wikipedia, halo effect is defined as a

cognitive bias in which our judgments of a person’s character can be influenced by our overall impression of him or her.

Applied to education and essay writing, we can think of it as the teacher evaluating a student based on his initial impression of the student's ability and performance. With tens and hundreds of scripts to read, teachers can hardly be blamed for judging a book by its cover. After all, it is far more likely that a well written essay follows a good introduction and that a poor essay follows a bad one. This means that it is in a student's advantage to spend some time to write a good introduction. After all, who wouldn't want to start a journey with a step in the right direction?

In general,the introduction should achieve the following aims.

It cannot be stressed how important definitions are. Not only do clear definitions demonstrate your understanding of the content to the examiners, more importantly, they allow you to identify the scope of the essay more clearly and ensure that you are sticking closely to the question. Definitions can range from simple one-liner explanations of what national income is or what barriers to entry are, to full paragraphs illustrating how the price mechanism functions or how the short-run profit maximising rule works.

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