How Aspects of Aviation and Credit are Similar
Good credit can be compared to what’s known as an uneventful flight in aviation. In fact, that is the very goal that we seek. What is the goal of a credit report? The goal is to find customers with good credit and do business with those customers. The goal is also to find debtors with bad credit and avoid doing business with them until they clear up their credit.
What, you might ask, does the aviation industry have to do with the business of credit? Well quite a lot actually. In commercial aviation we have a term called an uneventful flight. The meaning is fairly straightforward:
“If you describe a period of time as uneventful, you mean that nothing interesting, exciting, or important happened during it.”
Why is an uneventful flight in aviation important? Well that’s simple too. No passengers want to have a flight filled with bad weather turbulence or a novice wannabe fighter pilot flying the airplane trying to do air show tricks. Aviation also has some of the most stringent and enforced policies and procedures that are tried and true of any industry because following best practices simply saves lives. Similarly, creditors want a great customer relationship that adds value to their customers lives and makes money for their business.
The flip side of the coin consists of bad customers and potential business failure. Having good customers is like enjoying an uneventful flight from takeoff to landing. Having bad customers is like hitting some bad weather and turbulence or novice pilots trying tricks with passengers onboard. And just like the religion to follow policies and procedures in the aviation industry to save lives, creditors should have well-established written credit policies and procedures to follow to keep their businesses alive and well and serving the community.
To have an uneventful flight requires a lot of preparation exercises, from walking around the plane for a physical inspection before the flight to completing checklists that go into ensuring a flight has the best possible chance of being an uneventful flight. If you’ve been on an airplane you’ve probably heard the phrase “check and cross check”.
Well, the business of credit is no different. Having credit policies and procedures in place and completing the all important steps and checklists to onboard customers will ensure the best chance of an uneventful customer relationship that pays dividends for years to come. CINCB can help you with your developing good credit policies and procedures. Check out more information today about credit policies and procedures here.
Checking out your customer with a credit check from CINCB will help to ensure creditors find good customers which increases the chances of the desired uneventful customer relationship. Checking credit is quick and easy. To find out more check us out here to become a member.
Do not want to become a member but still want a credit check from us? Simply ask the customer to come straight to our website at www.cincb.ky and order the credit report online, the turnaround time is 24 hours.