Kim Radok founded Credit Matters in 2001. The global business environment was more stable and predictable then. As circumstances evolved, so did Credit Matters, which has continued to change as flexibility is vital to survive and grow during the best and worst of times.
Operating a profitable business is a much tougher proposition today, with continued uncertainty and ever-increasing risks seemingly around every corner. A few of these factors are associated with COVID, the possibility of a pending recession increasing in severity, increasing inflation and the risk of another pending war in trouble spots around the world.
By understanding the principles of business risk, and potential opportunities available, even in turbulent times, you will know how to make profits with the right wisdom and processes. After all, well-identified risk detected early, is a catastrophe evaded and sound experience enables are greater potential for future success.
The best solution is almost always found by acting positively with a clear understanding of the right processes and acting positively after due reflection.
Contact Kim today for more information on how to operate profitably by understanding the nature of risk and profiting from it.
Currently, I am between a number of assignments and have time available to assist if required. Therefore, I am open to additional business, whether that be a review of your credit and accounts receivable operations or picking up the telephone and calling your customers about unpaid invoices.
Tenure and rates are always negotiable.
Customers like one price, one distribution system and one person to call – they hate multiple sales reps. In Senge, P, Kleiner, A, Roberts, C, Ross, R, Roth, G & Smith, B. The Dance of Change.
Each month, Credit Matters researches and introduces a quote as the basis for the segment Monthly Business Observation in our monthly newsletter.
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Many years ago, when asking about the errors associated with unpaid invoices, I was often informed that “… our computers don’t make mistakes!” Of course their computers don’t, however, the humans inputting the information into their computers do!
This feature is not about discouraging the use of technology in business. Rather, it is focused on the positive aspect of making better business decisions on how technology can be used more constructively for the benefit of all stakeholders.
It’s Easier, Faster, and More Productive to Engage a Professional with Sound Experience.
Irrespective of your business predicaments; often, it’s simply easier, faster, and more productive to engage a seasoned professional. Sound knowledge coupled with experience from a seasoned professional helps you resolve, identify and implement strategies for greater success.
Kim is available, either as a mentor/sounding board, short-term consultant, or as a contractor.
Kim’s expertise within the specialty of Risk Management focuses on maximizing cashflow, customer engagement, profitable sales, and profits. On the other side of the ledger, he is extremely proficient in minimizing fraud, lost cashflow, customer claims and bad debts. Communicating with troublesome clients is a vital specialty. Whatever your issue, Kim will do the required work himself, and/or train your staff on how to be just as effective.
When successfully managing risks on both sides of the ledger, your bottom line will expand exponentially – with minimal cost.
Don’t delay in contacting Kim from Credit Matters to discuss his array of professional services available to assist your company to survive and thrive. To evaluate this unique opportunity further, Kim offers a no-obligation, free consultation, contact him today on 03 9886 6707 or 0411 649 261, or email firstname.lastname@example.org
These blogs are designed to motivate business people and other professionals to improve their business operations to better understand financial risk management issues.
Improving the way you manage your financial risk management obligations, will assist to improve sales, cashflow and profits, whilst enhancing stakeholder relationships.
A number of social business commentators and politicians are now saying that the world is at a greater risk of war since World War 11. The same can be said for your business, where long-term survival is at its greatest risk since the GFC. Those at most risk are the businesses which offer B2C and B2B credit facilities.Read More
It is apparent that the recession has started, although not declared yet because of changing calculations by organisations with vested interests. If you don’t believe the recession is here yet, then at least take note of the many people who are now suggesting it is not far away.
To survive the recession and come out the other end in the best possible state, your objectives must include identifying whether you have the financial resources to survive, especially in the short term. If you don’t have these resources, working to close down your business with a minimum of financial, emotional and reputation loss, may be the best decision you ever made.
Updated January 2022
Yes, the recession is now here and declared. However the full effects are not yet clear for every business. Despite the huge cost in commercial, social and people terms, there are always opportunities to minimise the damage or to perhaps survive and grow.
The purpose if this feature is to simply and briefly document the major events which are occurring in the hope we can all learn from this event. After all, there are many aspects of this recession which can benefit our commercial endeavours if only we can keep our minds open and emotions in-check
Due to our current circumstances around combating the COVID-19 outbreak, it’s totally reasonable to expect, or at least prepare for, a global slowdown – and even recession.
Two factors I've constantly encouraged business owners and managers to focus on – after cashflow – have always been the costs of bad debt write-offs and the cost of fixing mistakes.
Credit Matters has a produced THE SALES and CAPITAL COST REPLACEMENT CALCULATOR to identify the cost of replacing capital lost when the account is written-off or mistakes have to be processed.
The free Members Area includes special features which may not be available to the general public.
The fundamental purpose of our Members Area is to build an environment where business people and students can learn and understand the issues associated with financial risk management in the business environment.
Red flags are warning signs that here may be problems with a potential or existing business customer relationships.
Typical customer red flag indicators can be seen when reviewing applications for credit, an increase in credit limits, periodical trading reviews, reputational stability and in day to day business activities.
Memos are an ideal way of keeping track of actions and conversations between you and your customers. Memos are also valuable evidence in case debt collection or legal action is required to recover an outstanding debt. However, writing out words and terms in full, can be time consuming and often are not required.
Having a structured set of words and abbreviated terms available within your business, allows for a disciplined approach to writing your memos. This aspect is important for effective communication between different groups of employees within the business. It is also extremely important if your memos end up being exposed in a Court case.
My perspective on the “how and why” recessions occur, the preceding indicators and suggested action to survive them. The purpose of this article is to share experience, knowledge and insight for the many business professionals that have either forgotten the pain of the previous recessions, not experienced one in their working life and/or believe the “modern world is recession proof”. As a result, many of these individuals may consider themselves to be immune to the catastrophic ramifications.
Understanding and acting on the following information may help you protect your financial and emotional well-being........
It can be daunting to make contact with your customers for the unpaid invoice(s), especially when you are not used to such contacts. Too many people have an image of the debt collector demanding payments against defenceless debtors.
Identify the warning signs that your Customers are going in to trouble or are in trouble already. Learn what you can do to protect yourself.
In this feature area you find items, which if not exclusively available elsewhere, are hard to come by in normal circumstances.
You are free to peruse or download them for your use.
We hope they will be of value to you.
An Inconvenient truth was a movie about global warming. The business environment also contains a number of inconvenient truths. As is the case for global warming, many people would like to ignore the inconvenient truths of business.
To be the best business person you can be, it is to learn the terminology of words commonly used in business. Different business environments may have specific words which are common to their industry and setting. However, there are certain words which have universal meaning.
Discover how despite the good intentions behind some of the Australian Government's initiatives to support people in their consumer and business endeavours, they are being manipulated by the unscrupulous.
The Experts Exchange – are articles which blend the thoughts of two professional people through collaboration on a particular topic/subject. The object of these articles is to illustrate the how and why the knowledge of two professions interact in a manner that makes the article of more valuable to the reader. Instead of only one view on the article subject, the reader is introduced to a broader perspective of the subject.
Government agencies are a source of helpful and valuable information to mitigate some of the risks of operating and managing a business. The information is designed to help you operate within Government guidelines and Legislation. In addition, you will also find information to help you understand your rights in business.
In today's world, ignorance is no excuse.
Credit Matters has provided these access details to Government Agencies to keep yourself better informed and help you to better navigate the world of business.
Joining a professional body shows you are interested in the development of your career. There will be many professionals which will not show a similar initiative. Today, you need every advantage in this very competitive business environment.
Professional bodies provide the following opportunities and advantages and an acceptance of your professional qualifications by your peers.
If you are not yet a member of a professional body, review the professional bodies listed with Credit Matters to add value to your career.