A Failure To Communicate – Larry Convoy

Cool Hand Luke

One of my greatest frustrations as an Industry Group Secretary is getting an email or phone call from a member about 10AM saying they will not be able to attend that days meeting because they are shorthanded or the boss wants them to stay and cover the phones.  When I remind them that an industry group meeting is not a social function but a fact finding investment of time that can save their company money, they agree but the boss is the boss.

To quote a line from a great movie, Cool Hand Luke, “what we have here is a failure to communicate”. Have you conveyed to management the value and benefits derived from that minimal investment of time.

To prove my point, valuable information was exchanged at each of my first four meetings this month. Information that you will NOT find on a report, NOT find on anscers but will save companies thousands of dollars because they took the time to attend.

  1. Collection Account Information-during roundtable discussion, a group member was informed of a secondary address for a $70K account that their collection agency reported as a SKIP and uncollectable.
  2. Software Difficulties-a member complained about not being able to get desired reports from their new software. 2 members explained the method for extracting information and scheduled a follow up call to walk her through the process.
  3. Construction Law-a novice in the construction industry got educated on the procedure for going after a bond simply by explaining a situation she is currently going through with one of her customers.
  4. Sales Tax Audit-group discussion supplied several members with tips for dealing with audits, what auditors were most and least concerned with and potential problems.
When you consider that you work 40 hours/week, 160 hours./month and the group meeting takes up 2 hours or 1.25% of your month, the Return on Investment, (ROI) for those 2 hours is extraordinary.

Not writing off $70K, not losing your Lien rights, not paying a tax penalty, maximizing your software investment, your boss and you should agree that this is worth 2 hours of your time.

Larry Convoy, Industry Credit Group Supervisor

One Reply to “A Failure To Communicate – Larry Convoy”

  1. I completely whole heartedly agree! The credit meetings I have attended gave invaluable information on many topics over the years. The tips, education, information and insider scoops you can not buy have avoided bankruptcy losses, travel costs which I decided not to incur for a customer visit, tax issues and helpful hints!!

    You cannot put a price on attending credit meetings, let alone the socializing, friends, peers and networking which are lifetime and priceless:)

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