eNews March 2019

Why Shoot in the Dark on Open Credit?

By Whitney Davidson, CBF, CCRA, Sunroc Building Materials

In the first class (Principles of Business Credit) I took toward NACM certification, I learned about "The 5 C's of Business Credit." Character, Capacity, Capital, Collateral, and Conditions. The 5 C's of Credit provides a simple metric to shed light on the creditworthiness of potential customers and helps you more successfully predict the likelihood of getting paid.

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ICEL Chair: Recipe for Career Success

By April Tanner, CCE, Kimbalal Equipment Company

I get ideas for articles from lots of different places - and since I have had to do one a month for a year, I take inspiration from wherever I can get it. A great credit manager we all know and love inspired this article - you know who you are.

In reading about career success, I found this post on lifehack.org. It is a recipe for career success. We all strive for career success and we all know how to follow a recipe, so I liked the concept and am sharing my take on it here.

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How Do You Celebrate Your Little Victories?

By Janae Jeffs, CCE, Muir Enterprises

Credit managers know that you need to be persistent. We get a kick out of being able to get that elusive customer to commit to a payment. Though we have called that customer for days on end, we treat that call like it was the first one that was made. We may be dodged, ignored and leave hundreds of voice messages, but when we do get that "live person" we need to celebrate.

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ICEL RECAP: The Art of Knowing: A Framework for Being Happy at Work and in Life

By Melissa Mickelsen, CCE, Geneva Rock Products

"Once we know better, we can be better." Personal development coach Stefanie Gallagher addressed The Art of Knowing: A Framework for Being Happy at Work and in Life at the February ICEL Meeting. Stefanie used humor and her extensive experience in various corporate roles to share her thoughts on getting to know ourselves and practicing self-care. She spoke on developing skills that will better allow us to meet the challenges we face each day.

Stefanie used the acronym A.R.T. to provide an outline for her presentation: Address, Recognize and Take Action.

First, address what your drivers are. What makes you tick? What are your values and skills? Once we've identified these drivers, we can use them in goal setting and planning, to set boundaries and shift perspectives, and to develop greater compassion for others. If we know what we value, we can more easily step aside and refrain from judging others based on our values, allowing them to make decisions within their own frameworks.

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When Technology Isn't Enough: Personalizing the Creditor-Customer Relationship

By Andrew Michaels, NACM National

Credit managers are seeing the profound effects of technology in their day-to-day operations. Software programs are conducting credit investigations, sending customers collection notices and even handling payments once they are received. In a job where efficiency is key, technology is certainly beneficial; however, credit professionals are finding there is one task technology cannot replace: personalizing the creditor-customer relationship.

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