According to a study at Duke University, 40% of our actions are out of habit, not actual decisions. If all your habits are good, this makes life much easier. But, if you are like me and have some bad habits, this statistic helps explain why changing the Habit Loop is so difficult. This is what … Read more
When Lhoist North America hired Chris Soignier as Credit Manager in 2012, senior management recognized that they wanted to better control risk and reduce DSO. They had just made DSO one of the variables that impacted bonuses for sales people, but there was still much to do in order to achieve their objectives. Chris identified … Read more
The easiest time to get a personal guaranty is when a business is first asking for credit. It is very easy to include this provision on a credit application as described in our free eBook, The Credit Application Handbook. Many business owners will sign a personal guaranty just because it is on the form. Alternatively, … Read more
Arguments occur all too often, whether with a debtor who is disputing a debt, or a co-worker, manager, employee, or spouse. Anyone who is in an argument really wants to win. Frequently in an argument the parties get very emotional and winning is more important than the issue itself. More often than not, neither side actually … Read more
Here’s the premise: Good questions directly lead to greater success in life and career; Most people ask bad questions (myself included). We are constantly solving problems on the job, including making the sale. We need to collect information to solve these problems. How we ask questions greatly influences the answers and our eventual success. Better … Read more
The Kaplan Group, Inc. is pleased to announce that the Kaplan Group Annual Scholarship of $1,000 has been awarded to Stephen Lyons, a first year graduate student at the University of Georgia and a candidate for a Master of Accountancy. A main goal of the scholarship was to expose students to career opportunities in credit … Read more
Write Offs Can Be Part Of A Profit Maximization Strategy No one wants bad debt. Everyone hates it when you do not get paid. But, is it possible that never having had a bad debt is a sign of a problem? Absolutely! Over the last few weeks, I’ve heard these comments from a few CFOs: … Read more
My son graduates from UCSB in 20 days under a black cloud. He knew 2 of the six students killed by gunfire on Friday, and at least one of the hospitalized. What should be a joyous time for our son and family is now filled with enormous sadness as we think about those who lost … Read more
Michael Lewis’s latest bestseller ‘Flash Boys, A Wall Street Revolt’ is a non-fiction tale of Wall Street intrigue, unfairness, and salvation. The story itself has nothing to do with credit and collections, and yet it highlights the traits that make some people great at managing credit risk or successful debt collection when things go wrong. … Read more
Article by: Bertrand Mazuir Any commercial relationship based on mutual commitments shared between the seller and the buyer. The buyer undertakes to pay the price of the service or equipment delivered on the date specified in the contract and invoices. However, he frequently has a high propensity to forget, at least temporarily, this commitment. Several … Read more
