Greater Texas Credit Union’s Post

Three blatant signs that an organization is taking on water: 1) Annual benefit cutbacks 2) More job responsibilities same pay 3) Corporate loans abound

If you have a team of Sales + Credit Collection or Project Manager + Credit Collection and those teams communicate on a daily basis about the clients needs or issues and they have a plan to address promptly the clients requests then I would think that you have a recipe for growth within your company and be able to retain your clientele. You may also get referrals to add to your existing database. What are your thoughts on this topic?

Here's the scoop on your "deal team" The "deal team" is comprised of your bank team leaders essential to the information for due diligence by the (potential) buyer(s). This is the team for the initial due diligence - what's needed to provide information for non-binding offers. So, you want to keep this team as small as possible. You don't want ANY word leaking that you are going through this process. You competitors will jump on that information and try to recruit your people and take your best customers. Possible deal team members: - CEO and/or President - CFO - Chief Credit Officer - Chief Operations Officer* *Assumes COO is responsible for IT, HR and Property Management Your circumstances may vary, but this will likely be the "deal team." ===== I'm not a lawyer, an accountant, or an investment banker. I'm just a banker who has been in your shoes. You can catch my posts on LinkedIn at 7:10am and 4:10pm daily (weekends & holidays too!) My newsletter is weekly and free - check out my LinkedIn profile to subscribe.

In today’s fast-paced and competitive business environment, effective credit control is essential for maintaining healthy cash flow and minimising financial risk. However, the success of a credit control function doesn’t solely depend on policies and procedures—it also hinges on the people who execute them. Learn more about how hiring for culture is just as important - if not more so - than hiring for aptitude: https://lnkd.in/egdk797P

This agent interviewed one of my transaction coordinators. After the normal "My goodness. You do way more than anyone else does," this agent also told Stephanie something not so unusual. She said that her current transaction coordinator has very, very limited hours. Why is this? Because, like most transaction coordinators these days, it's a part time gig. It's a side hustle. You see, for me and my team, this isn't a side hustle. It's not a part time gig. It's not something we do just to bring in a little extra money. That's not how transaction management works. It's far too date sensitive, time sensitive, nuanced, and detail oriented to be a part time hustle. Transaction coordination IS our one thing. Each of us is at mastery level. If you want to experience what so many other agents are experiencing, then reach out and let's schedule a quick 15 minute Zoom call. Then you will say what everyone else says - "Why didn't I do this sooner?" Great job, Steph!

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Is there a gap in your sales process? We're halfway through 2024 and most companies are reviewing their first half productivity. If you're not hitting your sales targets so far, you're probably evaluating your process and looking for gaps. But what if your front end sales process is hitting the mark? Your sales team works hard and they're getting to next steps with prospects. Your sales projections are looking strong. ...but prospects are getting caught in the credit management department. Whether it's your credit management process itself taking too long to approve trade credit OR maybe it's just that your credit management team doesn't feel super comfortable approving deals for unknown companies. If you're evaluating your sales and wondering what you need to do to get your numbers up, let's talk. #tradecredit #sales #creditmanagement

Please find one of my early credit hire articles. This is the 4th credit hire article I am re-posting for your convenience only. As I have written over half my intended at least 50 credit hire articles, just to make sure that those who are interested can keep a track, I am re-posting the previous 27 credit hire articles, one a day. I am already working on my 28th credit hire article. I always like to please the audience. So please enjoy this early article of mine. If one does not get the basics right on credit hire, then it can spell doom! Here is an article dealing with some of the preliminary basics. Stephen Ward

Are you hesitating to tackle your credit issues head-on? Let's explore some common reasons why people might want to fix their credit. Join my F R E E Consultation with no up front payment. ⬇️⬇️

BENEFITS OF HIRING A TRANSACTION COORDINATOR Transaction Coordinators are trained at every step and detail of the transaction process. Their main task is to assist you in accomplishing administrative duties in each stage such as communicating updates to all parties involved, coordinating inspections, opening escrow, ensuring all documents are properly processed, and plenty more. With a transaction coordinator in your corner, you will be able to have more time to take care of your clients, generate more leads, and grow your business. THEY HANDLE ALL THE TIME-CONSUMING WORK Real estate agents spend hundreds of hours doing administrative work and paperwork with every deal they make. Instead of facing people, they get stuck in front of the computer or in long hours of commute. With a TC, however, you can free up your time and focus on the more important details of the sale.