Maestro on the Mic
MOTM #465: What to Do When People Default on Their Payment Plans
Monday, April 10th, 2023
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In general, payment plans are transactional rather than relational, meaning the biggest reason those plans exist is to increase revenue. They can be a good thing just as much as they can be harmful, but sometimes I think we can forget that there’s a real, human person on the other side of those payments. There’s a way to deal with defaulted payment to keep that person’s humanity in mind, and your own.
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Welcome to Maestro on the Mic, a podcast that helps online business owners find their passion, generate more profit, and build a life that they love. I'm your host, Dr. Shanté Cofield, aka The Movement Maestro, and I’m stoked to have you here. I hope this podcast inspires you to make moves and do the thing. Action is the answer.
In This Episode You'll Hear:
- Dealing with payments, not people
- The purpose of payment plans
- Do payment plans encourage poor financial decisions?
- Understanding your reasoning for offering plans
- Duration of plans
- Best practices for implementation
- Handling a defaulted payment
Links & Resources For This Episode:
Watch this episode on YouTube!
Get The Value Ladder for FREE.99
MOTM #463: Blame It All on My Roots (Part I)
MOTM #464: Blame It All on My Roots (Part II)
MOTM #228: Relational Fuckery, Antidotes, and Minding Your Business with James-Olivia Chu Hillman
MOTM #298: Self-Judgement, Hard Work, and Suffering with James-Olivia Chu Hillman
Check out the transcript for this episode here!
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