by D'Ann Johnson, CCE, A-Core Concrete Cutting

If you are or ever have been a member of an NACM Industry Credit Group, you know how great these groups are; how important the information discussed in these groups is to your company and your ability to stay on top of potential issues within your industry, market or with mutual customers. Discussions may (and often do!) include everything from the current economic climate to changes in collection laws to new contact information for a customer.

The best (and most important part for me) of groups is the relationships and network you gain. These relationships are built on trust – trust that the information shared is true, factual, and based on experience AND won’t be shared outside the trade group with anyone. It’s also based on reciprocity.

While it is true that you aren’t obligated to share information about your accounts or your customers – either by company policy or by hesitation of saying something that isn't allowed - groups work best when everyone feels safe to participate in the conversation. And don't worry, each group includes a Certified Group Administrator to ensure compliance with antitrust laws.

When information isn’t shared, trust doesn’t build and the group feels stilted, never able to reach its full potential. For me, if I’m showing up for the call or meeting, I want to get the most of my time and the money that is being spent for me to attend the group – both hard dollar costs and time away from my “normal” duties.

If your company has a policy that restricts or prohibits sharing information in trade groups, I encourage you to ask why. Are they unfamiliar with how Credit Groups are conducted? Do they understand what information can be shared and how? Maybe having clarity around who participates and why would go a long way to easing their concerns.

If you are hesitant to speak up, be assured that the NACM Group Administrator is there to assist you all the way through! From phrasing to antitrust laws, the NACM Group Administrators are there to help you!

You’re not alone. It takes a village to build a tribe and tribes are, at heart, family.