In business as in poker there are times when
discretion is the better part of valour.
Put simply, some of the best business deals
are those you turn away.
All
organisations operating in today’s climate need to have constant and rigorous
focus on their commercial exposure.
Against the
current competitive background it is obviously difficult to contemplate turning
away business especially from a customer of long standing.
However an
objective assessment may well lead to the conclusion that in this instance the
business would be left to others.
It may well
be that turnover suffers when stricter controls are in place over such elements
as payment terms and credit limits.
The reward
for such fiscal discipline is obvious. Avoiding defaults by customers not only
protects the company’s bottom line whilst allowing focus to be placed on more
profitable activities.
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