When a client owes you money your feelings may actually make it less likely you will get paid. Many of us don’t realize how much our feelings impact our choices. Rationally you know you will not be repaid on an account; yet, continue to hold onto that account for reasons that are not apparent. You start to build an emotional attachment to the receivable.
You may go through four stages that block your effectiveness and become so focused on getting paid from a client who may never pay you that you lose sight of clients who actually pay.
The emotional process that impacts our bottom line is as follows:
At the time the claim goes “bad” you have a 90% chance of getting paid. By the time you reach resignation however, you only have a 25% chance. When you are able to recognize how your feelings can sabotage you, you can cut your losses sooner, and focus your valuable time and energy where it belongs rather than throwing good after bad.