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Credit Matters
What's New At Credit Matters?

What's New At Credit Matters?

Due to various circumstances, we were unable to complete our latest project. Hopefully, the new feature will be available in December.

We have also decided on reflection of what is happening around us today, that we will not include any brochures with this newsletter, and just included a small number of our regular features.

Quote Of The Month

Quote Of The Month

The competitor to be feared is one who never bothers about you at all, but goes on making his own business better all the timeHenry Ford

Monthly Business Observation

Monthly Business Observation

One of the earliest lessons I learnt in sport or business, was never to brag, belittle, or announce big projects before an event. All that does is give your competitors ammunition to fire up your opponents, who end up outperforming you, or to steal your business, or offer bigger discounts.

Henry Ford’s quote is a beauty. In today’s business world where some people just cannot keep their mouths closed, it is a message which is well worth learning. It is therefore a quote which should not be forgotten.

It seems today, unless your business is announcing some business target, or product, or achievement, then the business will disappear from sight to your customers or suppliers. How sad this concept is where you need to keep making “noise” to be relevant. It is also a very destructive factor for your business when things go wrong.

Meanwhile, there are many other businesses which just keep quietly going about their business by delivering great service, products and services to their customers.

If you must make an announcement, make it after the success is achieved. That way, you should not end up with egg on your face. Irrespective of when you make announcements; never – never, denigrate the opposition. Again, all that does is to make you a target.

In today’s environment where every possible profitable sale will be critical for success, lead from the front with great offers, SERVICE and where possible, some empathy if deserved, should your customers have short-term problems. As they say; actions are remembered more often than your advertisements or announcements.

Likewise, when following up unpaid invoices, always try to have your invoices paid before your competitors through great service, invoicing correctly and getting paid as early as possible. You should also be aware of the potential solvency or insolvency of your customers. If in doubt, and a large amount of funds could be clawed back by preferential payments, “SELL” a getting payment program that may avoid the potential of paying back a preferential payment.

Should you be successful in retaining a deemed preferential payment because of an in-house strategy, again, this is not a success you want to announce or brag about to the world. The last thing you want to tell the world is how you “got away” with keeping the payment.

In the coming years, Henry Ford’s quote is going to have increasing currency like never before. It would be wise to take this message to heart and practise the “art of silence” and just go about your business quietly and focus on your own success. Announcing intentions, bragging about successes and denigrating your competition, only makes your competitors and others take notice of your business, and for all the wrong reasons.

Monthly Business Conundrum

A focus on risk management is not about moving forward in business, because doing nothing, is a risk in itself. Rather, risk management is about looking forward, to pre-empt the worst of any negative consequences which may eventuate on decisions made.

Take this recession for instance. To date we have seen may business people and managers freeze up because of the word RECESSION. One of the key reasons for their reaction was a failure to see the recession coming and plan accordingly. When the recession became obvious, these same people made decisions which will probably affect their businesses negatively into the future.

If these same people had anticipated the recession and taken steps to protect the business, they would now might be in a position to outlast the recession. Alternatively, they may have seen that the word RECESSION, also coincides with the word OPPORTUNITIES. As a consequence, their businesses may have now been in a position to take up opportunities, which in turn, would help them outlast the recession and their competitors.

At the end of the day, business is not without risk. It is a wise businessperson, or business owner who understands the value of looking at all business risks. By doing so, these people can take appropriate steps when moving forward with their plans and objectives. By managing risk, these people are also avoiding making bad decisions which often occurs when managing unanticipated risks when the risks eventuate.

Monthly Business Conundrum
This Month's Business Inconvenient Truth

This Month's Business Inconvenient Truth

Many business people still do not understand that an incorrectly raised invoice is not an asset or cash enhancement asset. Rather it is a liability that drains profits from your business and eats up your cash resources until paid. Often, if it takes too long to be paid, it does not lead to any profit at all.

It is therefore essential that business people work on ensuring that every invoice raised and processed by their business is:

  1. raised with the correct authority, or Purchase Number, clearly stated on the invoice;
  2. for the right product or service;
  3. at the right price;
  4. in a timely manner; and
  5. processed correctly as dictated by your customer via their invoicing portal, or sent to the correct email or postal address.

If any these factors are missed or incorrect, you can guarantee that your invoice quickly heads down the path of a liability instead of becoming a cashflow and profit asset.

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.