CMCS Newsletter
April 2011

April showers appear to finally be here, let's all hope for a dry warm Spring, we deserve it!  March Madness is over and you probably skipped the Final so you could watch Dancing With The Stars. So what now?  NHL Hockey playoffs are just around the corner, Masters week has started, Opening day at Comerica Park for the Tigers... Lots of fun events coming up, and of course the promise of Summer has us all primed and ready.  Enjoy!


Please consider joining our LinkedIn group "Detroit Area Credit Social", a networking and social group for credit professionals.  It's free to join and we will be hosting events like mixers, and mock trials for education.  You can join by clicking this link:


Dale Smith III

810-772-6827 Direct

View my profile on LinkedInFollow me on Twitter

Reaching and Collecting from the Real Decision Maker

Never Accept a NO from Someone who Doesn't Have the Power to Say YES!


Collecting your companies receivables is a time consuming and difficult task.  We all want our customers to receive an invoice in the mail and return it with a check 10 days later.  In this economy this is not a realistic expectation, and it's going to take some effort to collect on all the open accounts.  So the first step is to call whoever is listed on the invoice as the purchasing contact, right?  Maybe, because it is always helpful for the end user to understand that material or product may be held back for non-payment.  That call may also be a waste of time, especially when dealing with a larger company.  The A/P contact is most likely the first place to go.  They probably know the reason for non-payment and can clue you in on what's happening internally, and potentially who is holding back the payment.  If a couple of calls to this contact give you no results, it's time to take a top down approach. 

Your next contacts in order should be:
  • CFO
  • CEO
  • Controller
  • A/P Contact
  • Purchasing Contact

I've identified the decision maker, but now I am having trouble getting them to speak with me.  It's now time to try other methods of contact:  Email, Fax, website forms, social media (i.e. Linked In, Facebook, etc), and standard mail should all allow you to get your message to the top dog.  What should you be saying?  

Here are some examples of tactics to try:

  • We can offer you a 2% discount if the account is up to date within 48 hours.
  • We really appreciate your business, and would like to offer  a $50 credit on your account with any EFT or wire transfer that clears your entire balance.
  • We offer a free check by phone service as a convenient way of bringing your account up to date.

Just make sure you are being respectful along the way, a non-decision maker may not be able to get you paid but may have the power to slow payment further.  Try to question without being pushy, and always remember these are your customers you likely would prefer to keep long term.  Collecting is the process of training your customer as to your expectations regarding payment.  If they overstep expectations X is going to happen, and if it continues Y will happen.  Draw out a process map and try to do things within a day or two of your plan so your process becomes apparent. 






Top 10 Cinderella Story Teams
With the NCAA Championship completed, Butler could have been a top 10 Cinderella story.  Where do they rank now that it's over?


The final game between Butler and UCONN was a dud featuring some of worst shooting seen in history.  Where does the 2011 team rank?

 10.  Loyola Marymount 1990 - 11th Seed - After ousting New Mexico State, and 12th Ranked Michigan, they lost in the finals to a powerhouse UNLV team.

  9.  Providence 1987 - 6th Seed - Rolled top ranked Georgtown before losing to Syracuse in the Semis.

  8.  University of Pennsylvania 1979 - 9th Seed - Beat North Carolina, Syracuse and St. Johns to make the final four.  They were beaten by MSU, and a familiar Magic Johnson in top form.

  7.  George Mason 2006 - 11th Seed -  Beat MSU, North Carolina, Witchita State, and UConn on the way to the final four.  They were beaten by the eventual champs Florida.

  6.  Gonzaga 1999 - The Zags sprinted to the Elite Eight with wins over Minnesota, Stanford and Florida before being defeated by eventual champion UConn in the final minute of the regional final.

  5.  Kansas 1988 - Coached by Larry Brown, Kansas entered the Tourney unranked with 11 losses, but made quick work of Xavier, Murray State, Vanderbilt and Kansas State. KU would then clip Duke 66-59 before meeting up with Big 8 Conference rival and No. 1 seed Oklahoma, who had previously defeated the Jayhawks twice that season.

  4.  Butler 2010 - After churning out big wins over UTEP, Murray State, Syracuse and Kansas State, the Indiana-based team returned "home" to Lucas Oil Stadium in Indianapolis to partake in the Final Four.  The lost to Duke in the finals by just 2 points.

  3.  Villanova 1985 - the Cats beat Dayton, second-ranked Michigan, Maryland and seventh-ranked North Carolina to earn a spot in the Final Four, where they took out fourth-ranked Memphis State. They went on to beat Patrick Ewing and the Georgtown Hoyas in the final.

  2.  Texas Western 1966 -  The story was made into a movie called "Glory Road" in 2006.  This team featured the first all African American starting lineup.  They won the national championship and won by some wide margins along the way.

  1.  North Carolina State 1983 - 6th seed - They beat Pepperdine 69-67 in double OT before going on to beat sixth-ranked UNLV 71-70 in Round 2. Then, in the semis, the Pack made it past fourth-ranked Virginia, 63-62. As if things couldn't get more exciting for Valvano's group, the Wolfpack would top Hakeem Olajuwon's Phi Slama Jama Houston squad when Charles slammed home Dereck Whittenburg's 30-foot desperation shot with just two ticks left to win it, 54-52.


I personally rank 2011 Butler team at 8.  Given that they lost by a wide margin, after finishing 2010 strong they failed to improve on last years performance.  Until next year... I enjoyed the tournament and I'm now ready to move on to the NHL playoffs.

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In This Issue
Reaching and Collecting from the Real Decision Maker
March Madness: Top 10 Cinderella Stories
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