Dear Crabby,
I’ve read your column for years but never thought I would be writing to you myself. But here I am with a problem and not sure how to handle it.
I am the credit and collection manager at a small business that sells furniture to restaurants and bars. The company has been in business for about 40 years, and I was specifically hired about one year ago by the owner to hold the line on credit and get their outstanding receivables under control. I was very happy when I was hired because at my age (I’m over 55), job opportunities in credit are not easy to come by.
As you most likely understand, restaurants and bars can be either very lucrative and make gobs of money, or they can go belly up within six months. I believe that the financial unpredictability of this industry requires careful credit evaluations and as required, strict sales and payment terms before extending credit to any customer that is not creditworthy.
Unfortunately, this cautious credit idea is not shared with the owner’s son. He is constantly hanging out with entrepreneur chefs who dream about opening their own restaurants and becomes too involved with their personal aspirations.
When he gets approached by a nouveau cuisine chef who thinks he or she will be the next Michelin culinary star, he is quick to want to support them. However, when I process the application for the new customer and do the most basic credit research that shows the business is undercapitalized, or is not financially strong, he dismisses my evaluation and decides to sell to them at the level they are ordering.
Now, I know what you’re thinking. Where is the owner in all of this? Well, the short answer is that he’s often traveling and has left the operation and ultimate decision making to his son, which makes it very hard for me to do my job successfully. This was something that I did not bank on when I was hired.
So, with the above situation in mind, should I stay and try and get things on track or should I go and start over.
Signed: Too Often Overridden
Dear Overridden,
Sorry to hear that you were hired without a clear view of who would make decisions over you. I feel that the owner may have mislead you to believe you would be answering to him and not his son.
So, one option is to bear with the situation a little longer and wait for the owner to get back into the office, at which time you should have an honest talk with him. He may be receptive and clear the way for your credit decisions to stand or he might just take the side of his son and still hope that you’ll stay on.
The other option is that while you are still working, begin your job search again. Once you have a firm offer in hand, you can give them your two-week notice. Regardless of your age, I am confident that some company out there wants exactly what you have to offer and will greatly appreciate your credit concerns.
Good luck to you.
Crabby
Dear Crabby is a credit collection and human resources advice column by Nancy Seiverd President CMI Credit Mediators Inc. Your thoughts and comments (nseiverd@cmiweb.com) are most welcome!
All Rights Reserved
