Awards & Engraving

November '17

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14 • A&E NOVEMBER 2017 PEOPLE BUY FROM PEOPLE by Stephen L. Capper, CRM A STORY ABOUT EXTENDING CREDIT THE WRONG WAY When I was young and trying a variety of things to jump start my little business, I struggled especially during the winter months. It seemed that I had developed my clients mainly from April to November. Of course we all have obligations that span a timeframe based on 12 months a year not just seven months a year. For some reason, I associated the trophy business with only sports, and in Indiana at that time, most sports were in the summer. Today our busy months are January through December. Your entire business can and may change completely just like ours—be prepared for change that is sure to happen, perhaps several times during the life of your business. You have all heard me say I started selling horse shows; I sold what are called schooling shows in the winter months mainly for hunter and jumping horses. In our area, a man had become successful in the beauty school business—he had sev- eral locations and was known nationally for his flamboyancy and showmanship in this particular business. He was a master showman, salesman, and at the top of his game; he had a demanding presence. His success in that business made him think he could be successful in any busi- ness. So he entered the real estate busi- ness and developed a beautiful hunt club type area north of Indianapolis known as Woodland Springs. He renovated an old barn with a large observation room with its own restaurant where parents could look down into the show arena and watch their children taking lessons and showing their A ll of our businesses will hit various challenges as we grow. In this segment, I address extending credit, and determin- ing who gets it and why. Each of our businesses will have a variety of clients with all kinds of credit needs. We will all have to determine our own parameters for granting credit; this is one of the most important business decisions you will ever have to make. It could make or break you and will be a concern during the entire life of your business. IS YOUR BUSINESS TOOL BOX FULL? PART LXV Concepts of Building Your Business for Success Section K

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