Wilson Cole's Podcast From The Road

This is the next edition of the Adams, Evens & Ross (AER) podcast with me, Wilson Cole, President. Today we’re going to talk about reducing credit risk. 80% of businesses will go out of business within the first 5 years. After that window, even the 80% of the surviving 20% won’t make it through the next 5 years. Reducing risk to me means that if you’re extending credit, to make sure you’re covered. The best way I can explain it is that as crazy as it would be to give a large amount of money to a complete stranger, think of providing services to a complete stranger asking for staffing services, without properly reducing your risk, as the same type of crazy thing. Unfortunately I have had many clients who did not have that mindset, or had it but acted against their better judgement anyway, before they called me to explain the bad situation they were in. The situation typically involves a staffing company owner/executive saying that through some type of connection they provided staffing services or opened up