We all live in the ‘Information Age’ and run businesses in the ‘Knowledge Economy’. However, some business leaders do not have access to the Information and Knowledge that matters the most in making correct business decisions.
What also strikes me as interesting, is that more and more South African business leaders are collectively obsessed with the ‘New’ in the pursuit of ‘Progress’. I am a strong believer in the proverb ‘Don’t throw out the baby with the bath water’ which, interestingly, was a legitimate 1500 problem; since there was a hierarchical order of bathing in households from the oldest to the youngest members.
In the South African Media Industry, from a media investment perspective, the proverbial child is ‘Digital’ which is growing up very quickly; having challenged Magazine & Cinema Investments. What I believe is not growing up as quickly is the investment in the tried and tested systems and services that have aided in the growth of the Media Industry. The services, such as those provided by Corexalance, which assist media owners to assess their financial risks. Let’s be honest, uncertainty of Debtors payments is the one risk that keeps all CFO’s and respective CEO’s up at night.
It is no coincidence that some of South Africa’s biggest media companies are customers of Corexalance. Apurimac Media was one of the first Digital Media owners to work with Corexalance and subsequently won the 2013 Credit Excellence Award against some of these esteemed companies. An award that is more than just a trophy, and an addition to ones email signature, but an endorsement to one of our most valued internal business systems, our financial collections procedure.
While there are always uncertainties in business, the key to success is to mitigate as many risks as possible and harnessing as many benefits.There is something much worse than bathing last in dirty water. Getting paid last or even worse, not getting paid at all!
