Extending activities with strategic credit partnerships
Alliances are an extremely effective way of testing a new market or establishing a new product in an existing market. They can be attractive when entering specialist or distant markets, for example in...
View ArticleMaking the right credit decision
Sales decisions are tough and unforgiving, as one wrong move can easily hand the initiative to competitors. Moreover, customers’ perceptions, once formed, can be difficult to alter. Decisions should be...
View ArticleWays of dealing with credit problems
Consider cross-selling other products to existing customers and focus on increasing the value derived from individual clients. Discounts and special offers need not be offered to everyone; they are...
View ArticleDell sell well: Dell Computer’s credit techniques
In 1988, Dell Computer started competing aggressively with IBM and Compaq, the market leaders. Dell’s strategy was to provide good-quality personal computers at low (but not the lowest) price, backed...
View ArticleUsing the internet to boost credit options
Using the internet to sell has many advantages, and not simply the obvious one of connecting with more customers across a wide spectrum. However, the internet is also a source of strong, hidden...
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Internet allows for a credit almost everywhere
The internet enables sales to be made everywhere, all the time, which means that the business is available round the clock to sell and communicate with customers, constantly adding value. The goal is...
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Accelerating pace of loans changes
In the example of Carole and Tom, the conflict created energy, and they used that energy to create something better than they had at the start. They did so by creating a situation in which both of them...
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Credit examination is not about weaknesses
Three criteria make trust possible: telling the truth, taking the time to develop a relationship and explore each other’s needs and expectations, and being personally accountable for doing what you...
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Strategic framework for payday loans
Historically, since each organization institutionally saw the other as a competitor, it was important that the leaders develop the kind of working relationship that would enable them to work closely on...
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Open book credit management
At Springfield Remanufacturing, one of the businesses currently using open book management, employees have an equity investment— and this style of operating is consistent with the owners’ interests. If...
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