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  • #995470
    tfowler
    Member
    • Total posts: 25
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    Hello, my name is Tracy Fowler and my business is BDM Credit Management.

    I have worked in Credit (Accounts Receivable) for nearly 30 years, the last 15 in a senior management role. I have always believed that small to medium business owners would benefit from having access to a credit professional, even if it was only for 1-2 hours a week.

    Then two years ago, I started helping a friend with his receivables of some 300 accounts, he didn’t have time to get to it, and it was getting out of control with a significant % of his accounts well overdue. I was happy to help him out during my lunch breaks and took a few annual leave days each month.

    I absolutely loved getting back to what I had loved about Credit in the first place, the customer contact, building a rapport with the customers and getting old debt resolved and paid. For too long I had been caught up with meetings, policies and KPI’s and I was really enjoying the change – and of course, being able to use my expertise and experience to help out my friend.

    A few months later, I was referred to another client… he had 1000 accounts in need of my care. I was having a great time, bringing in old debt, and then I realised that this is what I should be doing.

    In March this year, I took the plunge and left my corporate job and have embarked on my business on a full time basis. It has been challenging, as there does not seem to be anyone else out there who is offering a service of Outsourced Accounts Receivable to business owners.. but I know this is something that can benefit business owners, and just need to get it out there that help is available.

    One of my clients recently said an unforseen benefit of having BDM, is that his customers no longer avoid his calls – as they know he isn’t calling about their account – because that is what I do..

    As I mentioned earlier, I have a strong credit background, so if you ever have any questions our would like some advice as to how to collect your accounts, please don’t hesitate to ask, I would love to be able help out in any way I can… I’m really looking forward to being able to contribute as much as I can….

    #1202084
    MichaelF
    Member
    • Total posts: 34
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    Welcome to the forums!

    Good on you for taking the plunge :)

    You know your doing a great job when you haven’t started an official business yet people are already referring you! That’s a definite sign it’s time for a change.

    I do have one question for you – What’s the most extravagant excuse you’ve been told for not paying their invoice on time?

    #1202085
    tfowler
    Member
    • Total posts: 25
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    Thank you so much MichaelF! its good to be here…
    There have been numerous weird ones… Once I was told the dog ate it (I kid you not) another one that sticks in my mind is that they absolutely positive the cheque had been sent over several phone calls.. then rang me to advise they found it in their child’s toy box covered in vegemite… !

    #1202086
    Paul – FS Concierge
    Keymaster
    • Total posts: 3,488
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    Hi and welcome to the Forums Tracy.

    Thanks for joining and posting.

    I love your business idea and hope you do really well!

    #1202087
    tfowler
    Member
    • Total posts: 25
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    Hi Paul, thank you so much, it is greatly appreciated.

    #1202088
    Divert To Mobile
    Member
    • Total posts: 2,751
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    Hi Tracy,

    You have an absolute essential service, most small businesses have troubles with AR. Its about time someone who knows what their doing and loves it got onto it. Good on you and welcome to the forums.

    Steve

    #1202089
    tfowler
    Member
    • Total posts: 25
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    Thank you so much Steve, it is sincerely appreciated!

    Tracy

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