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What's New At Credit Matters?

What's New At Credit Matters?

This month we continue to develop new products and features, the new segment in our newsletter is one such example. You can now access the latest news from the Bank Doctor. Like everything else we do, hopefully these articles will be of value.

The attachments this month include Dealing with Debtors from creditor(watch), Involved With Disptues from the Small Business Ombudsman, Investigator Upgrade and What Does a Criminal Look Like by Credit Matters

If you are interested in advertising with Credit Matters, please contact Kim and see what he can do for you. You will be surprised at the very reasonablly priced packages which can be arranged to promote your business.

Quote Of The Month

Quote Of The Month

“Let us be thankful for the fools. But for them the rest of us could not succeed.”

Mark Twain

Monthly Business Observation

Monthly Business Observation

In many of my blogs I talk about dealing with slow paying customers, getting payments from fraudsters, doing profitable business and the “art of business.” Using this month’s quote from Mark Twain, offers another opportunity to explore these themes.

The main issue when taking advantage of other people’s incompetence is to do so legally and with smart business, plus knowing the difference between truly smart business practices and those that are fraudulent and unethical.

Following are a few indicators which allow smarter business people to take advantage over the less competent business people who fail to understand the world of business. More importantly, whilst we all make mistakes in business, the less competent generally fail to learn from their mistakes and to change their business practices accordingly.

Nothing benefits customers more than a supplier which does not manage their cash or outstanding invoices. Regretfully we still see today, many business owners and managers do not understand the dynamics of selling on credit, the changing attitudes of debtors towards paying their debts and what is happening around them in the global community.

From another perspective, many customers do not appear to be aware of the issues facing their business if they do not pay their accounts in a timely fashion. Alternatively, there are other business people who understand the “art of business” and still obtain favourable deals despite being slow payers.

We also see business managers create impenetrable walls of technology whereby their customers and suppliers are unable to communicate effectively with their business. Little do these managers realise, they are not managing their business liabilities, and I do mean the liabilities listed in the balance sheet.

It goes without saying, we are also operating in turbulent times. For instance, creditors are losing their rights, customers are willingly to commit fraud, and disgruntled employees and customers willing publicly shame others. Meanwhile, many business people and their managers continue to operate in the belief they are somehow immune from the effects of these times.

The reality in business is once you understand the signs of incompetence in others, you can take steps to protect and grow your business. The secret for your own business success is knowing how to do so legally and with smart business strategies and the difference between truly smart business practices and those that are fraudulent or unethical.

Monthly Business Conundrum

Is your business model still valid?

The problem with business models is that many are built based on today’s theory and resources. In start-up mode, a properly constructed and thought out business model is essential as this provides the base from which you will build your business.

In a fast moving and turbulent world however, one the most dangerous factors in operating a business, is your business model. Too often, management becomes attached to their business model, even if it is not working.

To adapt your business model as things don’t quite work out, is common sense. However, it can also be perceived as a failure of the originating model.

The only business model which works is where there is an ethos for long-term survival, allows you to sell profitably, as often as possible, and you are paid within terms. All other business models are based on yesterday’s theory.

Your conundrum therefore, is to create a business model which guides your business and yet is adaptable for a profitable and long-term future.

Monthly Business Conundrum
This Month's Business Inconvenient Truth

This Month's Business Inconvenient Truth

Just because you need to be paid to pay your bills, why do you think your customer cares or will pay you?

It is simply amazing how many business people, still think their customers will suddenly care about paying their outstanding debts, when the supplier has been blasé about outstanding account matters in the past.

Suppliers are often slow to chase up unpaid invoices, respect their customer needs or to quickly resolve problems in order to work together more efficiently. When these issues are part of a trading relationship, suppliers shouldn’t be surprised when their customers don’t rush to pay them because they suddenly need the money.

The best way to maintain prompt payments from customers is to regularly contact them about unpaid invoices, to work through problems as soon as they are identified and make all efforts to have a seamless trading relationship.

Word Of The Month

Is the spelling veranda or verandah?

One of the well known uses of the word verandah is in the song Home Among the Gumtrees, written by Bob Brown and Wally Johnson in 1974 and later recorded by John Williamson. The spelling used was verandah. Today if a person used Microsoft’s Word to write the lyrics, they’d most likely use the spelling veranda, as verandah is not included in the Microsoft spelling dictionary.

According to both the Macquarie and Oxford dictionaries the primary spelling is verandah, with veranda listed as a secondary spelling. For Australian sites (those ending in .au), according to Google the usage of verandah to veranda is approximately 2:1. 

So next time when you’re sitting in an old rocking chair pondering, you’ll know the primary spelling in Australia is verandah ending in an h.

Word Of The Month


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Credit Matters is a financial risk management resource centre for the Australian business community. If you are in business, Credit Matters is your ideal source of financial risk management solutions.

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Future Opportunities & Possibilities

Credit Matters is continuing to grow and provide marketing and knowledge about financial risks to the Australia business community.

Futhermore, we invite marketing and knowledge ideas from our readers and contributors on how we can assist our respective firms grow. If you have any ideas, please contact me at

If you are interested in finding new ways to reach your marketplace, why not try Credit Matters. Our prices for advertising are very reasonable and advertising packages are on offer to make any cost, even more affordable. So if you are interested in reaching your customers at the right price, please contact Kim at for options.