I believe there is a tendency among credit professionals to sell themselves short. If we described Sushi as “cold dead fish served on rice” people would think long and hard about ordering it because that is selling Sushi short. Every successful credit professional I know is a solution provider. They have a unique set of skills and capabilities that benefit both internal customers and external customers. So, don’t sell yourself short. Remember the solutions we offer include:
- The capability to evaluate and understand external customers’ financial condition and understand how financial distress impacts their ability to pay you
- The flexibility required to address dramatic changes in workload that can and do occur from day-to-day
- The foresight necessary to recognize that one important way creditor companies succeed in the marketplace is by making fast and accurate credit decisions
- The core group of skills necessary to assign appropriate credit limits
- The expertise to select from various tools to mitigate credit risk when necessary
- The ability to effectively and efficiently collect delinquent payments, as well as to address disputes and deductions
- The skills required to address the interrelationship between higher risk and higher sales and to find the ‘right’ balance between the two
- The ability to make our decision making process transparent to our internal business partners
Next time someone asks you what you do for a living, remember how you contribute to your company’s survival. Credit is not “cold dead fish served on rice;” it is the lifeblood of the company and each of us are striving to master the skills necessary to be an artisan of the craft of managing business credit risk.
Michael Dennis’ Covering Credit Commentary. Michael’s website is www.coveringcredit.com.
The opinions presented are those of the author. The opinions and recommendations do not necessarily reflect the views of CMA, or their Officers and Directors. Readers are encouraged to evaluate any suggestions or recommendations made, and accept and adopt only those concepts that make sense to them.