Time is your scarcest resource. Don't schedule your time--budget it. Here are a few tips on successful time management:

1. Use the "4-F" method for handling paperwork:
   • File it.

   • Find someone to delegate it to.

   • Forget it (trash it).

   • Finish it.

   Remember: Your goal must be to handle documents only once.

2. Use the phone as much as possible. Some credit managers try to avoid conflict and stress by writing rather than calling to deliver bad news. But writing is much more time-consuming and far less efficient.

3. Make credit decisions using this four-step process:
   • Gather information.

   • Evaluate it.

   • Decide on a course of action.

   • Act.

   Remember: Don't fall into the trap of over-evaluating facts before making your credit decision.

4. Incoming telephone calls often steal large chunks of time from credit managers. When you're busy, let your phone roll over to voice mail, or to someone else in your department. Make sure you return messages within 24 hours, but do so when it is more convenient for you.

5. Some callers or visitors are slow to get to the point. When you encounter one of these people, end the preliminaries and get down to business by using this simple, inoffensive, but effective phrase: "Okay, how can I help you today?"

6. Conquer clutter in your office. Credit managers must project an image of competence and a sense that they are in control. If your office looks like a bomb went off in it, you are not projecting the right image. Equally important, clearing the clutter will enable you to focus on high-priority tasks rather than simply working on whatever is on the top of your in-box.

   Human Resources Portal For Credit Managers The biggest problems in credit are not financial issues; they're PEOPLE issues. So we've compiled a portal with all kinds of resources designed to assist credit pros manage this most difficult part of thejob. Learn what's working and what's not from those in the trenches, as well as hard data from our benchmarking surveys, including our industry-leading Salary & Job Satisfaction Survey. Check out Credit Today's HR Management Portal

    

7. If your company still has not automated the order review and approval process, it's time to revisit this concept with your superiors. Point out the benefit to your customers of getting orders processed and released more quickly.

8. A large number of collection agencies have formed in the last couple of years. If an agency calls and you're not interested, be blunt. You are not obligated to listen to a sales pitch or to explain why you're not interested in their services. Be prepared to hang up.

9. Browse through your mail. Have your trash can handy, and use it liberally.

10. Delegate frequently but wisely. First, be certain whomever you delegate to has the skills necessary to complete the task. Equally important, put a deadline on the assignment and, if appropriate, require periodic updates on the status of the project.

11. Certain credit decisions must be referred to your superior for approval. The most effective way to present the issue is as follows:
    • Explain the issue or problem.

    • Explain what caused the problem.

    • Present no more than two or three possible solutions.

    • Recommend a specific course of action.

12. Avoid telephone tag. Find out when the person you need to speak to will be in, and call back then. If you must leave a voice-mail message, make certain your message is specific and detailed.

13. Avoid attending "unnecessary" meetings whenever possible. If you schedule a meeting, have a written agenda and an aggressive time limit. If you want to have a really short meeting, require the attendees to stand up.