Category Archives: Money and Finance

Saving money, making money, and the issues that impact our finances.

PUTTING TOGETHER YOUR BEST TEAM

The baseball playoffs are in full swing.  As of this writing, the Cardinals are facing the Dodgers and the Red Sox are going up against the Detroit Tigers.  At this time of the year it is mandatory for the other … Continue reading

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CUSTOMER SERVICE DONE RIGHT

How do you provide world-class customer service that satisfies your customer base? One way is by establishing a standard of behavior as it affects your customers. Why is it so difficult to put yourself in the shoes of a customer … Continue reading

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Credit Reporting Errors And What You Can Do About Them

Did you catch that story on 60 minutes last week documenting the frequency with which credit reporting errors occur?  If you didn’t, you really missed an eye-opening report.  Here’s a synopsis that details the report nicely. How much do you … Continue reading

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The Importance of Management

With all of the recent attention being given to both Lance Armstrong and major league baseball players that were denied entrance to the Hall of Fame, I thought it time to take a look at the role that management played … Continue reading

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SIGNS OF A WELL THOUGHT OUT CREDIT / COLLECTION SYSTEM

You and your staff have had enough. You can take it no longer. That antiquated system your company has been hanging onto since the 1980’s has got to go!  The problem is how should the new system function? How can … Continue reading

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WHEN TO SAY “NO” TO A CUSTOMER

The customer is always right, right? Wrong. But they are vital to the survival of your business.  If a customer believes that they are correct, guess what? They are.  Perception becomes reality. There’s an old saying, “All money ain’t good … Continue reading

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WHEN THE ECONOMY GOES SOUR DOES YOUR COMPANY BECOME LESS RISK AVERSE?

I remember my manager coming to me and saying our CFO wants to loosen our credit guidelines a bit in order to increase sales. That always concerned me but I knew the reasoning was sound.  It certainly worked and I … Continue reading

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Successful Collections Are Limited By Your Negotiation Skills

Negotiations are a dialogue between two or more people or parties, intended to reach an understanding or resolve differences.  Many times the goal of a negotiation is to reach a compromise.  You (or your company) want something that is in direct … Continue reading

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The Credit Application…the #1 Tool in your toolkit

Your customer is requesting an extension of credit from you.  In order to grant credit your company needs certain information. Different organizations require different information in order to feel comfortable. How does your company view your credit application? Is it … Continue reading

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Top 10 Financial Ratios For Credit Professionals

The use of financial ratios can be incredibly useful tools when determining the strength of companies you are doing business with or are considering doing business with. Although there are literally dozens of these financial ratios to choose from these … Continue reading

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