For many years now we have been sending our financial figures not only to our banks, but also proactively to all German credit bureaus. This means that some suppliers (who do not have loan insurance) have access to our figures. I do not have a problem with this - sooner or later the financial framework needs to made public in the Electronic Federal Gazette. And above all: we need a good rating with the banks, insurance companies and suppliers. It is a natural procedure - I wish to take a loan, therefore, I need to "drop my pants" so to speak.
This awareness has not yet sunk in with some customers. We have been working with the German Factoring Bank for more than a decade now, and they are very generous with our credit limits. We owe this to the credit agency, and of course, to our financial figures. If this does not work, we ask our customers to send their current figures directly to the Factoring Bank, resulting in establisment of a credit limit. But unfortunately you often hear "I won't give my figures to a foreign bank". I believe this idea belongs in the Stone Age. You also often hear "But your competitor XX gives us XX credit." Ok, even then customers should be interested in having 2 credit limits with 2 suppliers, as this would be an advantage during delivery bottlenecks.
As is often the case, non-transparent companies have other problems. If we take on the credit risk of a couple thousand euros and ask them to "Please pay three times within the credit period, and at the very latest then you will receive a limit from the Factoring Bank." it still mostly does not work. As a last measure we have acted as a guarantor with a loan guarantee via the General Manager. Up to now the people who have refused to sign are the ones who previously said "My company cannot go broke, because. . . " even though they do not really believe their own words.
Oh, by the way: We do not even need the financial figures for ourselves; just for the bank, which then has to declare them secretive. Our experience has been: credit yes or no, and clarify further questions directly with the customer. Even then we only do this with customers who have a poor credit rating, or who are asking for a particularly high loan. Customers with poor credit ratings usually already know they have one. I can only advise: Do as much as you can to make sure that your credit rating with credit agencies are as good as possible.
Complaining – the national pastime of the Germans
Let’s be honest, we Germans love to complain – about the weather, football, the economy, politics, etc....
Let’s be honest, we Germans love to complain – about the weather, football, the economy, politics, etc. This unites us all – regardless of our social class or political affiliation. Complaining is a national pastime in Germany. We love to grumble about high prices, the shortage of skilled workers and the weakening economy, while at the same time discussing our next holiday or the four-day week. Please don’t get me wrong, I am all for everyone taking a lot of time off and having a good rest – the only thing that bothers me is the fact that we love to see everything in such a gloomy light! We have to start working together to find solutions, because what we forget amidst all the moaning are our own abilities.
No, Germany is not falling apart! Germany still has a lot of untapped potential. We have people with great ideas, curious and inquisitive people (yes, even among Gen Z), a high average level of education, a high degree of legal certainty, a consistently strong industry, very good research ... and yes, we also have the capital. But we have to stop complaining and focus on our strengths. We are capable of innovation, we can be or remain market leaders in many areas, but, at the same time, we have to be open-minded. Even if one area collapses, we can successfully develop and expand a subsequent one. These are our strengths. However, we have to accept the challenge – be it in society, in politics or in the economy. Burying our heads in the sand won’t help us.
We are once again facing enormous opportunities for our future – whether in medical research, industry, the energy sector or, of course, across the board in the field of AI. And that’s just what comes to mind. There is, of course, much more. Let’s work together to develop new ideas that will advance us not only as a society, but also as a business location. There is potential out there, it just needs to be tapped! And by the way, we’ll have less reason to complain!
The road to success: do we really have to get worse at everything?
Last week I had a conversation with a customer that left me speechless....
Last week I had a conversation with a customer that left me speechless. Our sales department asked me to speak to a customer on the phone who doesn’t buy from us because we supposedly supply end customers.
No problem, I thought. I called and explained that this is exactly what we don’t do, and that this is a key promise to our dealers. There are extremely rare exceptions, – only if a vendor forces us to, or a retailer explicitly asks us to. But that almost never happens.
Then it turned out that there was a misunderstanding: the customer said that we also supply small retailers. My answer: »Yes, we do and we have to, based on our contracts with the vendors. Our competitors do that too.«
»All correct«, I hear, but then it got exciting: »Your large competitors are not interested in small customers, so they are poorly served. At Jarltech, the small dealers feel comfortable because you provide a great service.«
I didn't know whether to laugh or cry ... A customer doesn’t buy from us because our service is too good? I hadn’t expected that.
But don't worry, contrary to the headline: We will continue to endeavour to offer every customer the best service we can!
Why is good service so important again?
I'm writing to you today from China. Here I have learnt once again why good service is so important....
I'm writing to you today from China. Here I have learnt once again why good service is so important. If you want a customer to pay more than elsewhere, then you have to make the difference! You have to know what they like and anticipate their wishes.
Here in Shenzhen is the Grand Hyatt Hotel – I was here at least six times a year before Corona – and even stored some luggage in Shenzhen, so that I only had to fly with hand luggage. Liquids and such ... that was difficult on the plane.
It’s been over three years since I was last here, and I arrived to be greeted by an armada of hotel staff. My beloved Coke Zero was waiting for me in the car outside the airport. My luggage, which I hadn’t expected to see again, had been stored for three years and completely cleaned for my new stay. Everything was hanging in the wardrobe and the bathroom was neat and tidy. My razor was charged and my chargers stood on the desk. Of course, the fridge was full of Coke Zero and the white wine I had last drunk three years ago. Even the room service knew what I liked to eat.
That’s what hospitality really is. And we have to do the same at Jarltech. Always write down what our customers want and like. And when I go out to dine with a customer, I need to know whether they are vegan or if they don’t like pork, for example. Some customers want to be called and courted on a weekly basis, whereas others find this rather annoying. Some still prefer paper catalogues, others believe it’s environmental pollution. And all the better if a customer returns after three years, and I still have it all written down somewhere. Jarltech may not be a hotel, but we are a service provider that has to differentiate itself The difference is always in the details.
The world's smallest chef gives a guest performance in Usingen
It's finally back on: Our 3D projection dinner show »Le Petit Chef« will be back in our restaurant »Uwe and Uli« (www.uwe-uli.de) from the 11th of October...
It's finally back on: Our 3D projection dinner show »Le Petit Chef« will be back in our restaurant »Uwe and Uli« (www.uwe-uli.de) from the 11th of October 2023 to the 30th of April 2024. Personally, I always have fun enjoying delicious food with a bit of a show. Come by sometime – it's also great for Christmas parties with up to 20 people. And if you're a customer of ours, why not have your sales contact invite you next time you visit Jarltech? 😊
Have fun with the little chef!