Credit Matters Newsletters

In July, all things being equal, we will have an audible version of our monthly newsletter. The audible version of each newsletter should be available approximately 7 days from the time it is sent out by email.

We have also been working on a new and updated version of the monthly newsletter. The new newsletter format will start with our July edition. We hope you will like it and find it more user friendly.

We will also be adding new additions to our Members area as time permits.

Advertising via Credit Matters

If you are interested in reaching business prospects who need your services or products, contact Kim to see what he can do for you. There are many different opportunities to advertise your business via Credit Matters and it may not be as expensive as you might imagine.

This month, you will find attached flyers which are all focused strongly on helping you to understand and manage financial risk. The brochures are from Cred it Matters, CreditorWatch, Peter Nash and Stopline. This is the time of year when your business's results indicate whether you have managed risk properly, or need to act to improve your risk management strategies for the future.

Is it the number of employees or the quality of employees which is the most important factor in operating a profitable business?

Well, the true answer and the conundrum for your business is; it depends.

Technology implemented properly and for the right reasons, means you can probably employ less people. You may need fewer employees, however these employees will need to have better qualifications in order to do the work more efficientlyand with less mistakes than the less qualified.

Continually working short-staffed is also not a long-term strategy for success. The fact is; you need to have enough employees do the work properly on a daily basis. Leaving work for tomorrow which should have been completed today, impacts negatively on sales success and other opportunities whilst adding to increased expenses.

The conundrum therefore for your business is to find the correct balance between the use of technology, finding those qualified employees to do the work properly and enough other employees to complete today's work today.

What is value for money? For some people, the upfront dollar cost is everything. For these people, their actions and thought processes show us the value for the dollar they spend, is less important. There are other people whose philosophy is for value over price because they believe this gives them peace of mind by saving costs in the future.

If you are a poor person, it is understandable to worry about price first and value later. For instance, a bucket of hot chips and a hamburger usually costs less than buying fruit or vegetables. The importance of a full stomach today however, may be more important than worrying about any additional value fruit and veggies offer tomorrow. This is not withstanding the fact, fruit and vegies are the better option for their long-term health.

In the case of operating a business however, thinking cheap instead of value, in most cases, probably means your business may never achieve its long-term potential. I fully realise not all business people have buckets of money to spend and we do have to live within our financial ability.

Notwithstanding the financial aspect, buying cheaper without consideration for long-term value, means the dollars you do spend, often do not provide the benefits expected. Typical situations were management may consider price instead of value, includes spending on marketing, technology and qualified employee resources.

Marketing only works when the right type of marketing methodologies and as appropriate. When using cheaper options and your message does not reach your intended customers, you have wasted your money. Any marketing professional will tell you that message.

Nothing destroys value more than cheaper technology solutions because they often cause more problems than they solve. In addition, there are always increased costs which are required to repair the damaged caused by inadequate technology solutions.

Poorly trained employees will never achieve the productivity of fully qualified employees. In addition, these employees will rarely be able to assist management resolve systematic operational problems. Unqualified employees often do not have the experience to understand what the problem is in the first place let alone have a potential solution to solve the problem.

Suppliers with cheaper quality products or services all create problems which end up impacting negatively on your customer expectations. Upset a customer with a shoddy product or service and they may not only never buy from you again, they may also tell the world these days.

At the end of the day, your business is usually your primary source of income. Hopefully, your business will also be around long enough to add to your security in to the future. Buying just for price and not for value, means tomorrow's income and future is compromised.